Yahoo Finance Stocks- U.S. Futures Fall as Bullish Sentiment Fades
Investing.com – U.S. futures pointed to a lower opening bell on Tuesday as bullish sentiment following news of a U.S.-Canada trade deal died down and Italian budget concerns spooked investors.
The S&P 500 futures fell 7 points or 0.26% to 2,922.50 as of 6:45 AM ET (10:45 GMT) while Dow futures lost 83 points, or 0.31%, to 26,595.0. Meanwhile tech heavy Nasdaq 100 futures decreased 29 points, or 0.38%, to 7,646.0.
Investor concerns over Italy continued on Tuesday, after Claudio Borghi, head of the lower house's budget committee, said Italy would have solved its fiscal problems with its own currency.
His comments prompted the yield on the 10-year Italian bond to rise to 3.41%, the highest level since March 2014, prompting worry of a spillover effect into other European sectors.
In earnings news, PepsiCo Inc (NASDAQ:PEP) reported quarterly revenue above but missed sales estimates for North American beverages, as well as for its Frito-Lay branded snacks.
General Electric (NYSE:GE) was among the top gainers in premarket trading, rising 2.15% while medical marijuana firm Tilray Inc (NASDAQ:TLRY) gained 5.47% and New Age Beverages Corp (NASDAQ:NBEV) increased 6.37%.
Elsewhere Tesla (NASDAQ:TSLA) fell 0.51% while Micron Technology Inc (NASDAQ:MU) dipped 1.37% and Facebook (NASDAQ:FB) lost 0.89%.
In central banking news, Fed Chairman Jerome Powell is expected to speak at 12:00 PM ET (16:00 GMT) at the 60th National Association for Business Economics Annual Meeting in Boston.
In Europe stocks were down. Germany’s DAX fell 98 points or 0.90% while in France the CAC 40 was down 53 points or 0.96% and in London the FTSE 100 decreased 33 points or 0.45%. Meanwhile the pan-European Euro Stoxx 50 lost 37 points or 1.09% while Spain’s IBEX 35 slumped 104 points or 1.12%.
In commodities, gold futures rose 0.20% to $1,194.10 a troy ounce while crude oil futures inched up 0.01% to $75.31 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, surged 0.45% to 95.35.
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