* Home Depot raises outlook, shares jump
* Carnival guides lower once more, shares tumble
* JPMorgan shareholders to decide on Dimon's chairmanship
* Futures: Dow up 11 pts, S&P, Nasdaq flat
By Rodrigo Campos
NEW YORK, May 21 (Reuters) - U.S. stock index futures were
little changed on Tuesday after the S&P 500 hit yet another
intraday record in the previous session, with markets expected
to drift sideways ahead of Congressional testimony from Fed
chairman Ben Bernanke on Wednesday.
The U.S. economic calendar is thin and the market will
continue to be vulnerable after the S&P and Dow industrials hit
record highs on Monday. However, the expectation of continuing
accommodative monetary policy from the Federal Reserve should
continue to lend support to equities.
"Given there's not a lot of economic news coming out today,
it looks like we're set up for a pretty 'nothing' day," said Kim
Forrest, senior equity research analyst at Fort Pitt Capital
Group in Pittsburgh.
She said company-specific news will be the focus and the
market is "nervous" ahead of Bernanke's testimony, "but not
enough to take any action, apparently."
The housing market recovery helped Home Depot report
higher quarterly sales and earnings, prompting the world's
largest home improvement chain to boost its sales outlook for
the year. Its shares rose 3.6 percent in premarket trading.
S&P 500 futures were flat and little changed in terms
of fair value, a formula that evaluates pricing by taking into
account interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures rose 11
points, and Nasdaq 100 futures were unchanged.
Carnival Corporation & Plc slashed its
full-year earnings outlook for the second time in less than
three months as it expects lower revenue due to the lower ticket
pricing it is employing to attract passengers following a string
of high-profile mishaps. Its U.S. shares dropped 7 percent in
Best Buy shares fell 1.8 percent in premarket
trading after the world's largest consumer electronics chain
reported weaker-than-expected quarterly sales and warned that
investments to win back shoppers could squeeze profits in the
Shares of JPMorgan Chase & Co were flat in premarket
trading as final ballots come in on a proposal to strip the
bank's chairman and chief executive Jamie Dimon of his chairman
title. Investors worry about what will happen if shareholders
win what will likely be a close vote.
Apple chief executive Tim Cook is expected to
testify before Congress later on Tuesday after a U.S. Senate
report on the company's offshore tax structure said the iPhone
maker has kept billions of dollars in profits in Irish
subsidiaries to pay little or no taxes to any government. Apple
shares fell 0.8 percent in premarket trading.
Medical device maker Medtronic Inc reported a
better-than-expected quarterly profit driven by strong
international sales and its shares rose 5 percent in premarket