Market Snapshot: Dow futures in holding pattern after 3-session skid


U.S. stock futures on Tuesday pointed to a muted open, as the Dow industrials try to stabilize after three down sessions in a row.

Investors are waiting for fresh readings on the housing market and consumer confidence, as well as speeches from Federal Reserve chief Janet Yellen and three other U.S. central bankers.

Dow Jones Industrial Average futures YMZ7, +0.01%  edged higher by 4 points, or less than 0.1%, to 22,280.00, after earlier showing a small loss earlier.

Futures for the S&P ESZ7, -0.03% were flat at 2,496, while those for the tech-heavy Nasdaq-100 NQZ7, +0.24%  notched a gain of 15 points, or 0.3%, to 5,891.50.

On Monday, the Dow DJIA, -0.24%  fell by 53.50 points, or 0.2%, pulling back for a third straight session and finishing 0.5% below an all-time closing high achieved last Wednesday. The S&P 500 SPX, -0.22%  dropped 0.2%, and the tech-heavy Nasdaq Composite COMP, -0.88%  lost 0.9%.

Analysts pinned Monday’s drop on a selloff for tech stocks and another flare-up in tensions between the U.S. and North Korea.

“Apart from geopolitics, the dollar will also take its cue from fresh data and news from the U.S. today, with the U.S consumer confidence report pending for release and Fed Chairwoman Janet Yellen speaking,” said Konstantinos Anthis, an ADS Securities analyst, in a note on Tuesday.

The ICE U.S. Dollar Index DXY, +0.41% was stepping higher Tuesday, building on Monday’s rise.

Other markets: Oil futures US:CLV7 slipped, pulling back from a surge Monday that was in part spurred by a threat from Turkey’s president to cut off oil exports from a Kurdish region of Iraq.

Gold futures GCZ7, -0.59%  retreated, giving up part of Monday’s leap that came as North Korean tensions ramped up again. European equities SXXP, +0.05% were mixed Tuesday, while Asian markets closed mostly lower.

Economic data and Fed: A July figure for a U.S. home price index is due at 9 a.m. Eastern Time, then August data on new home sales is expected at 10 a.m. Eastern. Economists polled by MarketWatch forecast that 585,000 new homes were sold.

Also at 10 a.m. Eastern, a September number for a consumer confidence index is slated to arrive, with economists anticipating a reading of 119.5.

Check out: MarketWatch’s Economic Calendar

On the Fed front, Cleveland Fed President Loretta Mester is due to moderate a panel discussion on the global economic outlook at 9:30 a.m. Eastern in Cleveland, and Fed Gov. Lael Brainard is slated to talk about labor market disparities at 10:30 a.m. in Washington, D.C.

Atlanta Fed President Raphael Bostic is expected to give a speech on the economic outlook and monetary policy in Atlanta at 12:30 p.m. Eastern, and Yellen is speaking in Cleveland about inflation, uncertainty and monetary policy at 12:45 p.m.

Individual movers: Shares in Red Hat Inc. RHT, -0.51%  rose 5% in premarket action after the software company posted better-than-expected earnings late Monday.

Olive Garden parent Darden Restaurants Inc.’s DRI, +0.31%  stock fell 4% premarket as the company matched profit expectations but missed on same-store sales.

Cruise operator Carnival Corp. CCL, -1.29%  is also among the companies expected to post earnings before the open.

Shares of Equifax Inc. EFX, +0.05%  were halted for news pending.