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U.S. futures edge lower, eyes on Fed minutes; Dow Jones down 0.08%

Published 05/20/2014, 06:48 AM
U.S. futures point to slightly lower open

Investing.com - U.S. stock futures pointed to a moderately lower open on Tuesday, as investors remained cautious ahead of the minutes of the Federal Reserve's most recent policy meeting, due to be released on Wednesday.

Ahead of the open, the Dow 30 futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.11% fall, while the Nasdaq 100 futures indicated a 0.11% decline.

Markets were jittery ahead of the minutes from the Fed’s latest monetary policy meeting on Wednesday, as investors awaited further indications on the central bank's view of the economy.

Recent U.S. economic reports indicating that the recovery remains uneven have weighed on U.S. Treasury yields, pressuring the dollar lower.

The tech sector was set to be in focus, amid reports Google (NASDAQ:GOOGL), up 0.03% pre-market, has held talks to purchase video service Twitch Interactive with hopes of boosting its YouTube site.

Based in San Francisco, Twitch acts as a social gathering place for video gamers, letting them discuss games or watch other players.

In the financial sector, Credit Suisse Group (NYSE:CS) was expected to remain in the spotlight a day after pleading guilty to aiding Americans’ tax evasion. Switzerland's second biggest lender, whose shares jumped 1.45% in extended trading, agreed to pay $2.6 billion to end the three-year U.S. tax probe.

In similar news, BP (NYSE:BP) tumbled 1.03% in early trading after the Fifth Circuit appeals court in New Orleans on Monday rejected the comany's request for a full review of its case regarding the 2010 Deepwater Horizon disaster.

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According to a Financial Times report, the oil and gas major is seeking to establish that the compensation settlement it agreed with plaintiffs' lawyers in 2012 is being interpreted unfairly.

Meanwhile, Home Depot (NYSE:HD) dropped 0.65% in pre-market trade after reporting lower-than-expected first quarter earnings and revenue figures,

Staples (NASDAQ:SPLS) also reported weaker-than-expected first quarter earnings, sending its shares diving 5.23% in early trading.

Other stocks likely to be in focus included Salesforce.com (NYSE:CRM), scheduled to report quarterly earnings after the closing bell.

Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 slid 0.35%, France’s CAC 40 declined 0.45%, Germany's DAX fell 0.20%, while Britain's FTSE 100 retreated 0.47%.

During the Asian trading session, Hong Kong's Hang Seng climbed 0.57%, while Japan’s Nikkei 225 gained 0.49%.

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