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Cautious on Wall Street

Investors move to sidelines ahead of Fed decision; consumer confidence on tap, oil tumbles.

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  • Extremely reliable
  • Shaky at best
  • Not worth my money

LONDON (CNNMoney.com) -- Stocks futures fell early Tuesday as investors grew cautious ahead of the start of the Federal Reserve's policy meeting.

At 5:07 a.m. ET, Nasdaq and S&P futures were lower and indicating a negative start for Wall Street.

The Fed, which starts a two-day meeting today, is expected to lower rates yet again when it releases its policy statement Wednesday. But many expect the central bank to hold rates steady after that cut.

On the economic front, the health of the U.S. consumer will be in focus with the release of the Conference Board's consumer confidence index after the market open.

Oil prices tumbled as supply concerns eased. U.S. crude fell $1.11 to $117.64 a barrel in electronic trading.

Companies to watch include credit card processor Visa (V), which reported a jump in quarterly profit late Monday. But shares fell in after-hours trading as investors had hoped for even more robust results.

The latest installment of Take-Two Interactive's (TTWO) Grand Theft Auto video game series goes on sale today. Grand Theft Auto 4 is expected to break sales records and could give Take-Two more room to negotiate for a higher price from rival Electronic Arts (ERTS), which has launched a hostile takeover bid.

Deutsche Bank (DB) became the latest bank to be hit by the credit meltdown. It posted its first quarterly loss in five years after taking $4.2 billion in writedowns.

In global trade, Asian markets ended mixed. Japanese markets were closed for a holiday. European shares were mixed in early trading. To top of page

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Markets Last Change
Dow Jones 10,197.47 -93.79 / -0.91%
Nasdaq 2,149.02 -17.88 / -0.83%
S&P 500 1,087.24 -11.27 / -1.03%
10-year Bond 99 12/32 Yield: 3.44%
U.S.Dollar 1 euro = $1.486 0.002
November 12, 2009 4:06 PM ET
CompanyPrice% Change
Advanced Micro Devices Inc 6.46 21.43%
YRC Worldwide Inc 0.92 -9.61%
BlueLinx Holdings Inc 3.15 -9.48%
Avis Budget Group Inc 10.10 -9.09%
Nov 12 3:53pm ET †
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