Investing.com - U.S. stock futures pointed to a lower open on Wednesday, as equity markets remained pressured by ongoing expectations for the Federal Reserve to begin tapering its stimulus program before the year end.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.19% loss, S&P 500 futures signaled a 0.20% decline, while the Nasdaq 100 futures indicated a 0.20% fall.
Markets were jittery after last week’s stronger than forecast U.S. nonfarm payrolls report prompted investors to bring forward expectations for a reduction in the Fed’s USD85 billion-a-month asset purchase program.
Investors were turning their attention to Thursday’s Senate hearing to confirm Janet Yellen as the first chairwoman of the Federal Reserve, for indications on the future course of U.S. monetary policy.
Starbucks was expected to be active after saying it would pay Mondelez International USD2.76 billion to settle a dispute over the coffee-shop chain’s bagged-coffee business. The news sent Starbucks shares down 1.87% in pre-market trade.
In the same sector, Yum! Brands gained 0.67% in late trading after posting same-store sales in China that fell less than analysts estimated last month, as declines at its KFC chain slowed.
The company gets about half of its revenue from China.
Elsewhere, Office Depot, which completed a merger with OfficeMax last week, named Roland Smith as chief executive officer and chairman of the newly formed office-supply chain.
Also in company news, Singapore’s sovereign wealth fund GIC Pte was said to be part of a group that is buying the headquarters of Time Warner in New York City.
Other stocks likely to be in focus included Cisco Systems, NetApp, NetEase, Envision Healthcare, Kinross Gold and SeaWorld, all scheduled to report quarterly results later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 declined 0.62%, France’s CAC 40 slid 0.53%, Germany's DAX shed 0.35%, while Britain's FTSE 100 tumbled 1.13%.
During the Asian trading session, Hong Kong's Hang Seng Index plummeted 1.91%, while Japan’s Nikkei 225 Index fell 0.15%.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.19% loss, S&P 500 futures signaled a 0.20% decline, while the Nasdaq 100 futures indicated a 0.20% fall.
Markets were jittery after last week’s stronger than forecast U.S. nonfarm payrolls report prompted investors to bring forward expectations for a reduction in the Fed’s USD85 billion-a-month asset purchase program.
Investors were turning their attention to Thursday’s Senate hearing to confirm Janet Yellen as the first chairwoman of the Federal Reserve, for indications on the future course of U.S. monetary policy.
Starbucks was expected to be active after saying it would pay Mondelez International USD2.76 billion to settle a dispute over the coffee-shop chain’s bagged-coffee business. The news sent Starbucks shares down 1.87% in pre-market trade.
In the same sector, Yum! Brands gained 0.67% in late trading after posting same-store sales in China that fell less than analysts estimated last month, as declines at its KFC chain slowed.
The company gets about half of its revenue from China.
Elsewhere, Office Depot, which completed a merger with OfficeMax last week, named Roland Smith as chief executive officer and chairman of the newly formed office-supply chain.
Also in company news, Singapore’s sovereign wealth fund GIC Pte was said to be part of a group that is buying the headquarters of Time Warner in New York City.
Other stocks likely to be in focus included Cisco Systems, NetApp, NetEase, Envision Healthcare, Kinross Gold and SeaWorld, all scheduled to report quarterly results later in the day.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 declined 0.62%, France’s CAC 40 slid 0.53%, Germany's DAX shed 0.35%, while Britain's FTSE 100 tumbled 1.13%.
During the Asian trading session, Hong Kong's Hang Seng Index plummeted 1.91%, while Japan’s Nikkei 225 Index fell 0.15%.