US pre-open: Futures in the red after Dow's biggest intraday comeback since March 2020
By Iain Gilbert
Date: Tuesday 25 Jan 2022
(Sharecast News) - Wall Street futures were pointing to losses ahead of the bell on Tuesday after major indices managed to eke out some modest gains in the previous session.
As of 1150 GMT, Dow Jones futures were down 0.55%, while S&P 500 and Nasdaq-100 futures had the indices opening 1.00% and 1.54% lower, respectively.
The Dow closed 99.13 points higher on Monday after staging its largest intraday comeback since the start of the Covid-19 pandemic in March 2020.
However, futures were in the red yet again on Tuesday as investors looked ahead to the Federal Reserve's two-day policy meeting, scheduled to wrap up at 1900 GMT on Wednesday.
Geopolitical tensions between Russia and Ukraine were also in focus, as was the economic impact of the Covid-19 Omicron variant.
The yield on the benchmark 10-year Treasury note was slightly higher at 1.789% early on Tuesday.
In the corporate space, 3M, American Express, Lockheed Martin, Raytheon Technologies, Xerox and Johnson & Johnson were all slated to report earnings before the bell, while Microsoft, Capital One and Texas Instruments will report after the close.
On the macro front, November's S&P/Case-Shiller house price index will be published at 1400 GMT, while the Conference Board's January consumer confidence report will follow at 1500 GMT.
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