Investing.com - U.S. stock futures pointed to a steady open on Tuesday, as investors eyed U.S. President Barack Obama's State of the Union address later in the day, as well as an upcoming G20 summit.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.04% loss, while the Nasdaq 100 futures indicated a 0.09% decline.
Market sentiment has come under pressure since European Central Bank President Mario Draghi said last Thursday that the central bank will monitor the economic impact of the stronger euro, fuelling speculation that an interest rate cut is not off the table.
Separately, the G7 reaffirmed its commitment to market determined exchange rates, saying that countries will not target exchange rates and warning that excessive volatility can have “adverse implications” for economic and financial stability.
The financial sector was expected to be active, after BNY Mellon said on Monday it will take an USD850 million charge against first-quarter profit after losing a high-stakes tax case to the U.S. Internal Revenue Service.
Internet-linked stocks were also likely to be in focus, as Facebook tumbled 2.76% in pre-market trade after Sanford C. Bernstein & Co. downgraded its recommendation for the social-network giant.
Elsewhere, industrial parts maker Rexnord soared 13.76% in after-hour trade after saying it would explore strategic alternatives, including a sale of the company, less than a year after going public.
In the same sector, industrial machinery maker Gardner Denver said it is considering leveraged recapitalization, as the company's business outlook declines.
Separately, Lions Gate reported higher-than-expected third-quarter earnings.The company also said revenue more than doubled to USD743.6 million, exceeding the average analyst estimate of USD719.5 million.
Shares in Lions Gate jumped 1.72% in late trading.
Other stocks in focus included Avon Products, Goodyear Tire & Rubber, The Coca-Cola Company and Western Union, all slated to report results later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.49%, France’s CAC 40 advanced 0.42%, Germany's DAX added 0.19%, while Britain's FTSE 100 rose 0.33%.
During the Asian trading session, Japan’s Nikkei 225 Index rallied 1.94%, while Hong Kong's Hang Seng Index remained closed for a national holiday.
Later in the day, the U.S. was to release data on the federal budget balance.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.04% loss, while the Nasdaq 100 futures indicated a 0.09% decline.
Market sentiment has come under pressure since European Central Bank President Mario Draghi said last Thursday that the central bank will monitor the economic impact of the stronger euro, fuelling speculation that an interest rate cut is not off the table.
Separately, the G7 reaffirmed its commitment to market determined exchange rates, saying that countries will not target exchange rates and warning that excessive volatility can have “adverse implications” for economic and financial stability.
The financial sector was expected to be active, after BNY Mellon said on Monday it will take an USD850 million charge against first-quarter profit after losing a high-stakes tax case to the U.S. Internal Revenue Service.
Internet-linked stocks were also likely to be in focus, as Facebook tumbled 2.76% in pre-market trade after Sanford C. Bernstein & Co. downgraded its recommendation for the social-network giant.
Elsewhere, industrial parts maker Rexnord soared 13.76% in after-hour trade after saying it would explore strategic alternatives, including a sale of the company, less than a year after going public.
In the same sector, industrial machinery maker Gardner Denver said it is considering leveraged recapitalization, as the company's business outlook declines.
Separately, Lions Gate reported higher-than-expected third-quarter earnings.The company also said revenue more than doubled to USD743.6 million, exceeding the average analyst estimate of USD719.5 million.
Shares in Lions Gate jumped 1.72% in late trading.
Other stocks in focus included Avon Products, Goodyear Tire & Rubber, The Coca-Cola Company and Western Union, all slated to report results later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.49%, France’s CAC 40 advanced 0.42%, Germany's DAX added 0.19%, while Britain's FTSE 100 rose 0.33%.
During the Asian trading session, Japan’s Nikkei 225 Index rallied 1.94%, while Hong Kong's Hang Seng Index remained closed for a national holiday.
Later in the day, the U.S. was to release data on the federal budget balance.