Stocks poised to pull back

By staff

NEW YORK( -- U.S. stocks were poised for a lower open Tuesday amid concerns of a slowdown in China and ahead of the start of a two-day Federal Reserve meeting.

Dow Jones industrial average, Standard & Poor's 500 and Nasdaq 100 futures were lower.

The average taxpayer got a refund of $2,753 last year. How do you think your 2009 tax bill will compare?
  • I'll get a refund of at least $2,700
  • I'll get a refund, but less than $2,700
  • I'll owe less than $2,700
  • I'll owe more than $2,700

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.

Wall Street managed slim gains Monday as investors took the view that the recent selloff was overdone. Also contributing: Ed Whitacre, the acting chief, was named permanent CEO of General Motors and a report showing existing home sales fell 16.7% in December.

But Wall Street appears set for another slump. Philip Isherwood, equities strategist at Evolution Securities, said the markets are dogged by "uncertainty" and "volatility" in the face of earnings expectations for 2010 that might be higher than the corporations can deliver.

World markets: Also on Tuesday, investors around the world were hit by fresh concerns about growth in China.

In Asia, Japan's Nikkei dived 1.8%. Major European indexes fell in midday trading.

Federal Reserve: A two-day meeting of central bank policymakers gets underway Tuesday. The Fed is expected to leave rates unchanged at near zero.

Uncertainty over whether Fed chairman Ben Bernanke's term will be renewed continues to hang over markets.

Earnings: Apple (AAPL, Fortune 500) reported record quarterly revenue after U.S. markets closed Monday. The company's strong quarter was fueled by iPhone and Macintosh computer sales. The company is gearing up for its widely anticipated announcement of a new tablet computer on Wednesday.

Cash and bonds: The dollar rose against most major international currencies, but slipped against the yen. The price of the 10-year note fell, raising the yield to 3.57%.

Oil and gold: The price of oil fell 79 cents a barrel to $74.47. The price of gold fell by $5.90 per ounce to $1,089.90.

Were you placed in a HAMP trial modification but denied a permanent modification? What are you doing now? If you are in this situation, please send an email to You could be profiled in an upcoming story. For the Comment Policy, click here.  To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.97%3.95%
15 yr fixed3.17%3.23%
5/1 ARM3.82%3.85%
30 yr refi3.93%3.97%
15 yr refi3.18%3.23%
Rate data provided
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 26,548.22 -179.32 -0.67%
Nasdaq 7,884.72 -120.98 -1.51%
S&P 500 2,917.38 -27.97 -0.95%
Treasuries 1.99 -0.03 -1.34%
Data as of 7:37pm ET
Company Price Change % Change
AbbVie Inc 65.70 -12.75 -16.25%
Advanced Micro Devic... 28.86 -0.40 -1.37%
Bank of America Corp... 27.76 -0.22 -0.79%
Micron Technology In... 32.68 -0.51 -1.54%
General Electric Co 10.22 -0.06 -0.58%
Data as of 4:15pm ET


Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.