Investing.com - U.S. stock futures pointed to a mixed open on Tuesday, as investors grew cautious amid growing uncertainty over when the Federal Reserve will begin scaling back its bond buying program.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.03% gain, S&P 500 futures signaled a 0.10% fall, while the Nasdaq 100 futures indicated a 0.06% loss.
Global equities found support last week after dovish comments by Fed Chairwoman nominee Janet Yellen were seen as cementing the view that the bank will continue its USD85 billion-a-month asset purchase program well into the beginning of next year.
However, Federal Reserve Bank of New York President William C. Dudley said Monday he was growing more hopeful that the economy is improving, and added that the fiscal uncertainties that acted as a drag on growth are likely to abate in the coming months.
Investors were turning their attention to the minutes of the Fed’s October meeting, as well as a speech by Fed Chairman Ben Bernanke on Wednesday for further indications on the future course of U.S. monetary policy.
Auto stocks were likely to be in focus, as Tesla Motors' Model S, the company's plug-in electric sedan, was being investigated by U.S. auto regulators in a possible precursor to a recall, following three fires in five weeks.
Shares in the auto maker plunged 2.51% in pre-market trade.
In the tech sector, Apple was up 0.02% in late trading amid reports the iPhone maker is in talks to buy Israel's PrimeSense, the maker of motion-tracking chip technology that was used in Microsoft’s Kinect video-game console.
Separately, Sony, which was scheduled to meet with investors this week about improving the company’s entertainment unit performance, was said to have hired Bain & Co. to identify USD100 million in cuts. Shares gained 0.48% after hours.
Elsewhere, Salesforce.com tumbled 0.92% in extended trading, even as the maker of customer-management software forecast fiscal fourth-quarter revenue that may exceed some analysts’ estimates as acquisitions helped boost sales of marketing tools.
Among earnings, Home Depot reported better-than-expected third quarter results on the back of strong revenue figures, sending shares up 2.61% pre-market.
Other stocks expected to be in focus included JC Penney, Lowe's and Deere & Co., scheduled to report earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 lost 0.96%, France’s CAC 40 tumbled 1.10%, Germany's DAX retreated 0.48%, while Britain's FTSE 100 declined 0.56%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index fell 0.25%.
Also Tuesday, the Organization for Economic Co-operation and Development cut its forecast for global economic growth in 2014 to 3.6%, down from 4%, warning that the outlook for emerging markets is deteriorating.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.03% gain, S&P 500 futures signaled a 0.10% fall, while the Nasdaq 100 futures indicated a 0.06% loss.
Global equities found support last week after dovish comments by Fed Chairwoman nominee Janet Yellen were seen as cementing the view that the bank will continue its USD85 billion-a-month asset purchase program well into the beginning of next year.
However, Federal Reserve Bank of New York President William C. Dudley said Monday he was growing more hopeful that the economy is improving, and added that the fiscal uncertainties that acted as a drag on growth are likely to abate in the coming months.
Investors were turning their attention to the minutes of the Fed’s October meeting, as well as a speech by Fed Chairman Ben Bernanke on Wednesday for further indications on the future course of U.S. monetary policy.
Auto stocks were likely to be in focus, as Tesla Motors' Model S, the company's plug-in electric sedan, was being investigated by U.S. auto regulators in a possible precursor to a recall, following three fires in five weeks.
Shares in the auto maker plunged 2.51% in pre-market trade.
In the tech sector, Apple was up 0.02% in late trading amid reports the iPhone maker is in talks to buy Israel's PrimeSense, the maker of motion-tracking chip technology that was used in Microsoft’s Kinect video-game console.
Separately, Sony, which was scheduled to meet with investors this week about improving the company’s entertainment unit performance, was said to have hired Bain & Co. to identify USD100 million in cuts. Shares gained 0.48% after hours.
Elsewhere, Salesforce.com tumbled 0.92% in extended trading, even as the maker of customer-management software forecast fiscal fourth-quarter revenue that may exceed some analysts’ estimates as acquisitions helped boost sales of marketing tools.
Among earnings, Home Depot reported better-than-expected third quarter results on the back of strong revenue figures, sending shares up 2.61% pre-market.
Other stocks expected to be in focus included JC Penney, Lowe's and Deere & Co., scheduled to report earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 lost 0.96%, France’s CAC 40 tumbled 1.10%, Germany's DAX retreated 0.48%, while Britain's FTSE 100 declined 0.56%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index fell 0.25%.
Also Tuesday, the Organization for Economic Co-operation and Development cut its forecast for global economic growth in 2014 to 3.6%, down from 4%, warning that the outlook for emerging markets is deteriorating.