Morning Market Update: March 30, 2010

U.S. stock futures are trading higher Tuesday as investors become more optimistic over the global economic recovery. Economic reports due out include the Standard & Poor's/Case Shiller home price index at 9 AM ET and the Conference Board's Consumer Confidence Index at 10 AM ET. Economists expect that the home price index fell 0.8% in January year-over-year and that the consumer confidence index rose to 50 in March, up from 46 in February. In corporate news, Apple (NASDAQ:AAPL) shares rose 2.8% in premarket trading on news that the company is planning to produce its popular iPhone for Verizon's wireless network. Verizon (NYSE:VZ) shares rose 3.4%. Qualcomm (NASDAQ:QCOM), who is the predominant manufacturer of the style of chips used in Verizon phones, rose 2.2%. The Dow Jones Industrial Average (DJI) futures are trading 5.00 points above fair value, the S&P500 (INX) futures are trading 1.30 points above fair value, and the Nasdaq Composite (IXIC) futures are trading 6.75 points above fair value.