NEW YORK (CNNMoney) -- U.S. stock futures were under pressure Tuesday after Hewlett-Packard issued a weak outlook and as investors geared up for reports on housing and industrial production.
Hewlett-Packard (HPQ, Fortune 500) reported a 3% increase in sales but warned the current quarter will be hurt by Japanese quake impact and weak PC sales. HP shares fell more than 4% in premarket trade. The company reported ahead of schedule after a memo about its outlook was leaked late Monday.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were barely changed ahead of the opening bell. Futures measure current index values against perceived future performance.
U.S. stocks ended a choppy session lower Monday as investors remained focused on oil prices and the debt crisis in Europe.
Tech shares got particularly hit hard, with the Nasdaq falling 1.6% Monday, and big tech names like Amazon (AMZN, Fortune 500), Netflix (NFLX), Yahoo (YHOO, Fortune 500) and eBay (EBAY, Fortune 500) helping push stocks lower.
Trading has been volatile recently as commodities such as oil and silver have fallen sharply from record highs, and investors wait for the conclusion of the Federal Reserve's bond-buying program at the end of June.
Economy: Expect the government's report on April housing starts and building permits before the opening bell. Economists expect 563,000 homes broke ground in the month, up from 549,000 in March. Permits are expected to slip to 590,000 from 594,000 the previous month.
Companies: Dow component Wal-Mart Stores (WMT, Fortune 500) reported quarterly income of $3.4 billion and sales of $103 billion, topping analysts' estimates.
Home Depot (HD, Fortune 500) beat forecasts by a penny, reporting earnings per share of 50 cents. But the home improvement retailer posted sales of $16.8 billion, a 0.2% decrease from the year-earlier period.
Earnings from Dell (DELL, Fortune 500) are due after the closing bell. The company is expected to earn 43 cents per share.
World markets: European stocks were mixed in midday trading as investors shrugged off UK inflation data. The April consumer price index in the United Kingdom came in much higher than expected at 4.5%.
Britain's FTSE 100 fell 0.1%, the DAX in Germany slid 1.1% and France's CAC 40 edged up 0.2%.
Asian markets ended mixed after trading in a narrow range. The Shanghai Composite gained 0.1%, the Hang Seng in Hong Kong slipped 0.3%and Japan's Nikkei was unchanged.
Currencies and commodities: The dollar fell against the euro and the British pound but rose 1% against the Japanese yen.
Oil for June delivery slipped 2 cents to $97.35 a barrel.
Gold futures for June delivery rose $2.80 to $1,493.40 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury ticked lower, pushing the yield up to 3.16% from 3.15% late Monday.
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% |
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% |
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