Futures edge higher, following markets overseas

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Associated Press

Posted on May 7, 2013 at 6:36 AM

Updated Tuesday, May 7 at 8:02 AM

NEW YORK (AP) — Stock futures are following markets overseas slightly higher with major U.S. indexes hovering hear historic highs.

The habits of the American consumer will come into focus later on Tuesday. The Federal Reserve releases its figures on consumer borrowing for March at 3 p.m. Eastern.

Dow Jones industrial futures are up 33 points to 14,939. The broader S&P futures have added 1.9 points to 1,615.30. Nasdaq futures are up 5.5 points to 2,953.

Economists believe that Americans are borrowing more, but for college and cars mostly. After being stung during the economic downturn, people are still paying off credit cards and using cash.

Investors also await earnings reports that come after the bell Tuesday from Walt Disney and the snack company Mondelez, which makes Oreos, Tang and owns brands like Nabisco.

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