Futures Crumble for Second Straight Day - InvestingChannel

Futures Crumble for Second Straight Day



U.S. stock futures fell on Tuesday, pointing to a second day of losses for a stock market that had been climbing steadily to record after record.

Futures for the 30-stock index stumbled 138 points, or 0.4%, to 33,820.

Futures for the S&P 500 slid 18 points, or 0.4%, to 4,137.50.

Futures for the NASDAQ Composite index fell 56 points, or 0.4%, to 13,841.25.

Procter & Gamble shares rose slightly in pre-market trading after the consumer giant reported quarterly earnings that beat expectations with pandemic home care trends lingering and beauty sales picking up.

Johnson & Johnson shares remained flat in early trading following better-than-expected earnings and revenue. The company also reported $100 million in first-quarter sales of its COVID-19 vaccine that’s on hold in the U.S. while U.S. health regulators investigate a rare blood-clotting issue.

Another Dow component Travelers Companies saw its shares rise more than 1% after quarterly results topped Wall Street’s estimates. The company also raised its quarterly cash dividend and approved an additional $5 billion of share buybacks.

The first-quarter earnings season got off to a strong start last week as the major U.S. banks reported. Financials earnings have topped expectations by 38%, while others in the S&P 500 have surprised to the upside by 12%, according to data from Credit Suisse.

Streaming giant Netflix is slated to release numbers after the bell. Wall Street analysts expected Netflix to remain a winner in the streaming space even as the pandemic recovery improves.

Overseas, in Japan, the Nikkei 225 plunged 2% Tuesday, while in Hong Kong, the Hang Seng index eked ahead 0.1%.

Oil prices edged higher by six cents to $63.44 U.S. a barrel.

Gold prices grew $3.20 to $1,773.80 U.S.