NEW YORK (CNNMoney.com) -- U.S. stocks were headed for a lower start Tuesday, following declines in global markets on lingering economic worries. Investors were also anticipating a weak report on the housing market.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down. Futures measure current index values against perceived future performance.
Stocks ended a choppy session lower Monday, after concerns about the economy cooled upbeat sentiment tied to a recent spate of corporate dealmaking.
"There's a huge amount of frustration about the speed of the recovery and concerns that it has hit a wall, said Tom Speiss, head of personal wealth advisers at Eisner LLP. "I'm expecting the market to move laterally following downward trends in Asia and Europe."
Economy: Housing will take center stage after the market opens, when the National Association of Realtors reports on sales of existing homes.
Economists surveyed by Briefing.com expect a drop to an annual rate of 4.72 million units in July, from 5.37 million in June.
Companies: Barnes & Noble (BKS, Fortune 500), which put itself up for sale earlier this month, reports quarterly earnings before the opening bell.
Analysts expect the bookseller to report a fiscal first-quarter loss of 80 cents per share, versus a profit of 14 cents per share a year ago.
World markets: European shares sank in early trading. The CAC 40 in France fell 1.4%, Britain's FTSE 100 lost 1.1%, and the DAX in Germany fell 1%.
Asian markets ended mixed. Japan's benchmark Nikkei index ended down 1.3% and the Hang Seng in Hong Kong fell 1.1%. But the Shanghai Composite edged up 0.4%.
Currencies and commodities: The dollar fell to a 15-year low against the Japanese yen, but climbed against the euro and the British pound.
Oil futures for October delivery fell 95 cents to $72.15 a barrel. Gold for December delivery slipped $8 to $1,220.50 an ounce.
Bonds: Prices for Treasurys were higher. The yield on the 10-year note fell to 2.55% from 2.61% late Monday. Bond prices and yields move in opposite directions. The U.S. Treasury will offer $37 billion worth of 2-year notes on Tuesday.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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