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* Apple up a day after TV, gaming and credit card launch
* U.S. homebuilding falls more than expected in Feb
* Boeing rises as co readies 737 MAX software fix
* Oil stocks mirror gains in crude prices
* Futures up: Dow 0.48 pct, S&P 0.45 pct, Nasdaq 0.47 pct (Adds comments, details, updates prices)
By Shreyashi Sanyal
March 26 (Reuters) - Wall Street’s major indexes were set for a strong opening on Tuesday, attempting a rebound after two sessions of declines fueled by fears of slowing global economic growth.
Stock index futures gave up slight gains following a report that U.S. homebuilding fell more than expected in February, but the outlook for the housing market is improving amid declining mortgage rates.
Markets have been roiled over the past few trading sessions following the Federal Reserve’s stunning about-face on interest rate increases and data that suggested slowing global growth. Traders are now pricing in a rate cut by the Fed, as early as September.
Adding to the worries was the inversion of the U.S. Treasury yield curve, seen by many as a harbinger of recession.
“The fact that markets were beaten up so much on Friday, people were looking at the yield curve and the stock market selling off and thought things were getting weaker, but that panic phase may have passed,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
“The growth worries were probably a little overdone but that is certainly going to be an ongoing concern.”
Investors also awaited progress on U.S.-China trade talks, with top U.S. officials traveling to Beijing for a new round of high-level negotiations, which are scheduled to start on Thursday.
At 8:34 a.m. ET, Dow e-minis were up 124 points, or 0.48 percent. S&P 500 e-minis were up 12.5 points, or 0.45 percent and Nasdaq 100 e-minis were up 34.25 points, or 0.47 percent.
Apple Inc’s shares rose 1.2 percent in premarket trading, a day after the iPhone maker unveiled its video streaming service, a credit card and an online gaming arcade.
The company’s shares fell 1.2 percent on Monday as its new services failed to impress investors.
Boeing Co climbed 1 percent, extending Monday’s gain after the planemaker said it would provide airlines that have bought its 737 MAX with free software upgrades.
Nvidia Corp rose over 3 percent after brokerage Piper Jaffray initiated coverage on the chip designer with an “overweight” rating.
Shares of Perrigo Co fell 1.1 percent after Morgan Stanley lowered its price target on the generic drugmaker’s shares, citing uncertainty in its consumer business growth.
Oil prices rose as OPEC supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to an economic slowdown.
Shares of oil majors Exxon Mobil Corp edged up 0.7 percent and Chevron Corp rose 0.9 percent in light premarket trading.
Meanwhile, a report from the U.S. Conference Board at 10 a.m. ET is expected to show consumer confidence index likely rose to a rate of 132 in March from 131.4 in February. (Reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila)