In other corporate news, the Nasdaq Stock Market (NDAQ: chart) put its entire 31% holding in the LSE for sale. The Nasdaq said it would use the first $1 billion from any proceeds to cut debt and the rest for stock buybacks.

On the earnings news front, home improvement retailer Lowe''s (LOW: chart) gained 6% in pre-market trading after it reported a better-than-expected 9% earnings increase in Q2. The company also cut its full-year earnings outlook.

Crude oil will also be in the spotlight. Crude oil fell 69 cents to $71.13 a barrel as Hurricane Dean is likely to avoid key installations in the Gulf of Mexico. S&P 500 futures rose 3.6 points at 1,452.30 and Nasdaq 100 futures rose 4.75 points at 1,897.00. Dow industrial futures advanced 40 points. Yields on 10-year Treasury notes edged up to 4.68%.


[R]08:00AM Lowe’s Cos posted 9% profit increase in Q2 on higher revenue.[/R]

Lowe''s Cos. (LOW: chart), the U.S. second largest home improvement chain, announced 9% profit increase in Q2 on higher overall revenue. The retailer earned $1.02 billion, or 67 cents a share, higher than $935 million, or 60 cents a share a year earlier. Quarterly revenue rose to $14.17 billion from $13.39 billion last-year same period. Lowe’s Q2 financial results beat estimates for net income of 61 cents a share on revenue of $14.13 billion. However, the company’s same-store sales declined 2.6%, as the home improvement market has been slowing amid a slump in the housing sector.

Looking ahead, Lowe’s projected Q3 per-share earnings of 43 cents to 45 cents, with sales up 7% to 8% from a year earlier. For the fiscal year, the company expects per-share earnings of $1.97 to $2.01, down from its prior view of $1.99 to $2.03 a share, and expects sales to rise 6% from the prior fiscal year. The stock jumped 6.5% in pre-market trading.