Investors could sell at open as they await Alcoa's 3Q results.
Renewed concern about the dollar's strength could send U.S. stocks lower at Tuesday's open while investors wait for the first Dow component, Alcoa, to report third-quarter earnings.
At 5:30 a.m. ET, futures pointed to a lower start for the major indexes.
The dollar fell to its lowest level against the euro in three months amid continued concern about the U.S. economy, particularly the growing budget deficit. The dollar was also lower against the yen.
"Sentiment is still dollar negative and it will take some very decent equity news to turn this around. The market needs something to hang its hat on," Ian Gunner, head of foreign exchange research at
Mellon, told Reuters.
The wait for September quarter results ends Tuesday, with Alcoa unveiling its numbers after the close. The aluminum maker is expected to post a profit of 30 cents a share, up from 26 cents a year earlier, according to a consensus of analysts surveyed by First Call.
Among U.S. stocks trading in Europe, Alcoa (AA: Research, Estimates) fell more than 1 percent.
In the handful of companies posting results before trading begins is No. 2 soft drink maker PepsiCo (PEP: Research, Estimates).
The Dow Jones industrial average and Nasdaq composite index have risen in each of the four October trading sessions so far. That includes Monday's 0.2 percent gain for the Dow and 0.7 percent boost for the Nasdaq sparked in part by Motorola's announcement that it will spin off its semiconductor operations (see chart for details).
Asian-Pacific stocks ended mostly higher, with Tokyo's Nikkei index up 0.8 percent for its fifth straight gain. European markets started their day lower. (Check the latest on world markets)
Treasury prices pulled back in early trading, sending the 10-year note yield up to 4.19 percent from 4.17 percent late Monday.
Brent oil futures slipped 10 cents to $28.30 a barrel in London, where gold was higher in early trading.
Renewed concern about the dollar's strength could send U.S. stocks lower at Tuesday's open while investors wait for the first Dow component, Alcoa, to report third-quarter earnings.
At 5:30 a.m. ET, futures pointed to a lower start for the major indexes.
The dollar fell to its lowest level against the euro in three months amid continued concern about the U.S. economy, particularly the growing budget deficit. The dollar was also lower against the yen.
"Sentiment is still dollar negative and it will take some very decent equity news to turn this around. The market needs something to hang its hat on," Ian Gunner, head of foreign exchange research at
Mellon, told Reuters.
The wait for September quarter results ends Tuesday, with Alcoa unveiling its numbers after the close. The aluminum maker is expected to post a profit of 30 cents a share, up from 26 cents a year earlier, according to a consensus of analysts surveyed by First Call.
Among U.S. stocks trading in Europe, Alcoa (AA: Research, Estimates) fell more than 1 percent.
In the handful of companies posting results before trading begins is No. 2 soft drink maker PepsiCo (PEP: Research, Estimates).
The Dow Jones industrial average and Nasdaq composite index have risen in each of the four October trading sessions so far. That includes Monday's 0.2 percent gain for the Dow and 0.7 percent boost for the Nasdaq sparked in part by Motorola's announcement that it will spin off its semiconductor operations (see chart for details).
Asian-Pacific stocks ended mostly higher, with Tokyo's Nikkei index up 0.8 percent for its fifth straight gain. European markets started their day lower. (Check the latest on world markets)
Treasury prices pulled back in early trading, sending the 10-year note yield up to 4.19 percent from 4.17 percent late Monday.
Brent oil futures slipped 10 cents to $28.30 a barrel in London, where gold was higher in early trading.
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