Cautious on Wall Street
Investors move to sidelines ahead of Fed decision; consumer confidence on tap, oil tumbles.
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. 
-
Which companies made the most Fortune lists this year? Here are the top firms. More -
Energy firms are under fire as natural gas drilling gets close to big cities. More -
An explosion of foreclosures will result from these exotic mortgages. More -
Cloud whitening and space Frisbees could slow global warming. What'll work? More
