LONDON (ShareCast) - US stock futures reversed earlier gains and slid early on Tuesday, with airline stocks among the biggest fallers.
Just after 15:00 BST, the Dow Jones Industrial Average was down 29 points, while the S&P 500 and the Nasdaq slid two and 21 points respectively.

According to the US Bureau of Labor Statistics, the number of job openings in April reached 5.38m compared with 5.11m in March, the highest figure since record began in 2000, and a 22% increase year-on-year.

Meanwhile, according to the US Commerce Department, wholesale inventories climbed 0.4% month-on-month in the period against expectations of a 0.2% gain, as inventories of durable goods climbed 0.1%.

The report came only a few hours after a ManpowerGroup survey found US employers' hiring intentions in the third quarter of 2015 are among the strongest worldwide.

According to its Employment Outlook Survey, the net employment outlook was +16%, up 2% year-on-year and flat compared with the previous quarter.

Figures released on Tuesday showed that of the more than 11,000 US employers surveyed, 24% expected staff levels to increase in the third quarter, the highest since the same period in 2008.

European stocks fell, extending losses after a fairly flat start as ongoing uncertainty over Greek debt negotiations undermined sentiment, as Germany's DAX index, which has fallen over 10% since its April peak, slid under the 11,000 mark.

"The value that was added to Eurozone stock markets on the back of QE is quickly being eroded due to Greece, and with the payback deadline looming dealers are doing their utmost to get out," said IG's analyst David Madden.

Elsewhere, Asian shares fell as speculation of an interest-rate hike by the Federal Reserve later this year weighed on sentiment, while soft Chinese inflation figures sparked concern about the health of the world's second-largest economy.

The dollar reversed some of Monday's losses and gained 0.20% against the euro and 0.13%% against the pound but lost 0.24% against the yen, while gold futures climbed 0.51% to $1,179.60.

Oil prices staged a solid rebound, with West Texas Intermediate gaining 2.77% to $59.80 a barrel, while Brent surged 2.96% to $64.60 a barrel.

Airlines slump on downgrade

In company news, athletic apparel retailer Lululemon Athletica surged 6.97% in pre-market trading after first quarter sales beat expectations.

General Electric edged 0.26% higher, after agreeing to sell its private equity lending unit to Canada Pension Plan Investment Board for $12bn, while Edwards Lifesciences climbed 0.70% after analysts at BMO lifted their target price on the stock from $135 to $158.

Real estate group Hovnanian Enterprises plunged 9.60% after its second quarter profit missed expectations and the group chief executive said he expected the company to book an annual loss.

Outdoor-apparel company Quiksilver plummeted 27.3% after reporting worse-than-expected second quarter results, while retailer Burlington Stores slumped 11.3% after its first quarter revenue fell short of expectations.

Shares of American Airlines Group, Delta Air Lines and United Continental Holdings fell on Monday after analysts at Raymond James downgraded the group on concerns over a slowing economy and a competitive pricing environment.

On the basis of two months of actual data for the second quarter of 2015 and its forecast for June, on Tuesday American Airlines said it now expected its consolidated passenger revenue per available seat mile (PRASM) to be down by approximately 6 to 8%.

The stocks were still feeling the pinch early on Tuesday, with American Airlines down 2.61%, while Delta and United fell 3.07% and 2.22% respectively.

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