Investing.com - U.S. stock futures pointed to a lower open on Tuesday, as market sentiment weakened broadly amid concerns that the U.S. may take military action against Syria’s government, while uncertainty over the future of the Federal Reserve's stimulus program persisted.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.64% fall, S&P 500 futures signaled a 0.74% loss, while the Nasdaq 100 futures indicated a 0.91% drop.
Markets were jittery after U.S. Secretary of State John Kerry said President Obama will hold Syria’s government accountable for using chemical weapons.
Meanwhile, uncertainty over how soon the Fed will start to unwind stimulus measures continued after data on Monday showed that U.S. durable goods orders fell in July, raising concerns over domestic demand.
The Commerce Department said U.S. durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
J.C. Penney was likely to be in focus, after activist investor Bill Ackman said he is selling his entire stake in the retailer after a public spat with the company’s board. The news sent J.C. Penney shares tumbling 1.72% in after-hour trade.
In similar news, Richard Schulze, Best Buy's founder and largest shareholder, informed the consumer electronics retailer that he plans to sell an undisclosed amount of its stock to diversify his assets and raise money, sending the company's shares down 0.98% in extended trading.
In the financial sector, Bank of America plummeted 1.04% pre-market, after the U.S. lender's lawsuit against the Federal Deposit Insurance over USD1.7 billion in investor losses was dismissed by a federal judge.
Other stocks likely to be in focus included Tiffany, DSW, Bank of Montreal, Bank of Nova Scotia, Avago and Tivo, scheduled to report second-quarter earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.36%, France’s CAC 40 plummeted 1.31%, Germany's DAX retreated 1.38%, while Britain's FTSE 100 declined 0.62%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.65%, while Japan’s Nikkei 225 Index declined 0.59%.
Later in the day, the U.S. was to publish private sector data on house price inflation, as well as a closely watched report on consumer confidence.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.64% fall, S&P 500 futures signaled a 0.74% loss, while the Nasdaq 100 futures indicated a 0.91% drop.
Markets were jittery after U.S. Secretary of State John Kerry said President Obama will hold Syria’s government accountable for using chemical weapons.
Meanwhile, uncertainty over how soon the Fed will start to unwind stimulus measures continued after data on Monday showed that U.S. durable goods orders fell in July, raising concerns over domestic demand.
The Commerce Department said U.S. durable goods orders dropped 7.3% in July, worse than expectations for a 4% decline. It was the largest decline since August 2012.
The data came after a report on Friday showed that U.S. new home sales fell by a larger-than-forecast 13.4% in July, the largest decline in more than three years.
J.C. Penney was likely to be in focus, after activist investor Bill Ackman said he is selling his entire stake in the retailer after a public spat with the company’s board. The news sent J.C. Penney shares tumbling 1.72% in after-hour trade.
In similar news, Richard Schulze, Best Buy's founder and largest shareholder, informed the consumer electronics retailer that he plans to sell an undisclosed amount of its stock to diversify his assets and raise money, sending the company's shares down 0.98% in extended trading.
In the financial sector, Bank of America plummeted 1.04% pre-market, after the U.S. lender's lawsuit against the Federal Deposit Insurance over USD1.7 billion in investor losses was dismissed by a federal judge.
Other stocks likely to be in focus included Tiffany, DSW, Bank of Montreal, Bank of Nova Scotia, Avago and Tivo, scheduled to report second-quarter earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 1.36%, France’s CAC 40 plummeted 1.31%, Germany's DAX retreated 1.38%, while Britain's FTSE 100 declined 0.62%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.65%, while Japan’s Nikkei 225 Index declined 0.59%.
Later in the day, the U.S. was to publish private sector data on house price inflation, as well as a closely watched report on consumer confidence.