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Sour mood on Wall Street

Futures decline after Intel lowers profit forecast; investors worry about surging oil, gold prices.

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March 4 2008: 5:48 AM EST

LONDON (CNNMoney.com) -- Stock futures fell early Tuesday after chipmaker Intel cut its profit forecast and as investors remained worried about surging commodities prices.

At 5:16 a.m. ET, Nasdaq and S&P futures were lower, indicating a negative start for Wall Street.

Intel (INTC, Fortune 500) lowered its profit outlook after the market close Monday, saying that the price for memory chips had fallen more than expected.

Stocks finished Monday's session mixed amid surging oil and gold prices and the falling dollar.

Oil prices, which scaled a new trading record of $103.95 a barrel on Monday, edged lower in electronic trading. The dollar edged higher against the euro and the yen.

Worries about bond insurers could also be back in the news after the Financial Times reported that Ambac (ABK) has decided against splitting its business into two.

Other companies to watch include office supplies firm Staples (SPLS, Fortune 500) and bookseller Barnes and Noble (BKS, Fortune 500).  To top of page

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