US pre-open: Futures point to losses as earnings season carries on
Wall Street futures were in the red again before the open on Tuesday as quarterly earnings from some of the nation's largest companies continued to roll in.
As of 1220 BST, Dow Jones futures were down 0.42%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.45% and 0.41% weaker, respectively.
The Dow closed 123.04 points lower on Monday, cutting into gains recorded at the end of last week amid a sell-off in tech stocks.
Corporate earnings were firmly in focus ahead of the bell on Tuesday, with Procter & Gamble beating earnings expectations amid an uptick in beauty products sales, while Johnson & Johnson posted $100.0m in quarterly sales of its Covid-19 vaccine, helping both earnings and revenue beat Wall Street expectations.
Still to come, CSX will report earnings after the bell, while Netflix will release its latest quarterly figures this evening.
IG's Chris Beauchamp said: "Stocks continue to drift lower, hit by a lack of major news that leaves investors waiting for further high profile earnings that might reverse the trend and provide a boost to equity markets.
"Ahead of the open, we expect the Dow to start at 34,047, down 30 points from Monday's close."
No major data points were slated for release on Tuesday.