Wal-Mart beats estimates

Stock index futures pointed to a higher market open on Tuesday after Wal-Mart Stores Inc (NYSE:WMT - News) reported quarterly results that topped analysts' expectations.



The airline sector could get a boost on merger talk. The New York Times reported Delta Air Lines (NYSE:DAL - News) moved closer on Monday to a deal to buy Northwest Airlines Corp (NYSE:NWA - News), according to people involved in the talks.



Cost-conscious consumers looking for discounted prices helped Wal-Mart, the world's largest retailer, beat Wall Street forecasts.



"Any time the world's largest retailer shows better-than-expected earnings, it shows the consumer is not completely dead," said Edward Bretschger, director of equity sales and trading at Calyon Securities in New York. "Any signs of life really bode well for the economy and market in general. Wal-Mart is the ultimate litmus test for the consumer."



Another multibillion dollar write-down by a major global investment bank failed to halt the gain in U.S. stock futures. Credit Suisse (VTX:CSGN.VX - News) revealed it has written $2.85 billion off the value of its asset-backed investments and found pricing errors on its books.



U.S.-listed shares of Credit Suisse (NYSE:CS - News) were down 5.9 percent to $47.89.



S&P 500 futures (SPc1) rose 10.70 points, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.



Dow Jones industrial average futures (DJc1) rose 111 points, and Nasdaq 100 (NDc1) futures added 20.25 points.



The National Association of Home Builders reports the February reading of its housing market index at 1 p.m. (1 p.m. EST). Economists forecast the gauge held steady at 19 for a second month. In December, the index hit a lifetime low at 18.


On Friday, the Dow Jones industrial average (DJI:^DJI - News) was down 28.77 points, or 0.23 percent, at 12,348.21. The Standard & Poor's 500 Index (^SPX - News) was up 1.13 points, or 0.08 percent, at 1,349.99. The Nasdaq Composite Index (Nasdaq:^IXIC - News) was down 10.74 points, or 0.46 percent, at 2,321.80.