US pre-open: Futures point to small losses following sell-off in previous session
Wall Street futures had stocks opening slightly lower ahead of the bell on Tuesday following a sharp sell-off in the previous session.
As of 1225 GMT, Dow Jones futures were down 0.06, while S&P 500 and Nasdaq-100 futures had both indices opening 0.05% weaker.
The Dow closed 382.59 points lower on Monday, while the S&P started off the year in the red for the first time in four years.
Yesterday's sell-off was driven by today's Georgia runoff elections, which will ascertain whether or not the Republican Party can hold on to control in the US Senate, with fears that increased tax rates and more progressive policies could weigh on markets if Democrats gain control of the Senate weighing on sentiment.
England's move to impose a third Covid-19 lockdown amid worries of a more transmissible variant of the coronavirus has also rattled markets, with New York state confirming its first case of the new strain on Monday.
SpreadEx's Connor Campbell said: "The Dow Jones is heading for a 0.2% increase after the bell, as it attempts to claw back a fraction of Monday's 380 point slump. The index has dual concerns at the start of the New Year: like in many countries, a rapid rise in Covid-19 cases; and related, the runoff Senate elections in Georgia, the results of which will dictate the next few years for the Biden administration. One of those issues will be decided much sooner than the other, with Georgians heading to the polls this Tuesday."
On the macro front, ISM's December New York index will be released at 1445 GMT, while last month's ISM manufacturing PMI will follow at 1500 GMT.
Federal Reserve heads Charles Evans and John Williams will deliver comments at 2045 GMT.
No major corporate earnings were slated for release on Tuesday.