Stock Futures Wall Street

[bigdog]

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Stock futures point to modestly higher opening

Stock futures point toward higher opening as investors wait to hear from Fed chairman
By Stephen Bernard, AP Business Writer
On Friday August 21, 2009, 7:55 am EDT

NEW YORK (AP) -- Stock futures rose moderately Friday, pointing to a higher open on Wall Street as investors await a speech from Federal Reserve Chairman Ben Bernanke.

Traders will be looking to Bernanke's speech for insight into a potential economic rebound.

During an annual Fed conference in Jackson Hole, Wyo., Bernanke is expected to talk about the past year's financial crisis and could provide clues about how the Fed will eventually withdraw trillions of dollars in aid used to support the economy.

Withdrawing that support too soon could hinder any recovery. But, waiting too long could lead to rapid inflation.

A report on existing home sales could also provide direction for investors. Sales have shown signs of life in recent months, raising hopes for a recovery for the overall economy. The National Association of Realtors is expected to report existing home sales rose for the fourth consecutive month in July.

July's sales are forecast to rise 2.2 percent to a seasonally adjusted annual rate of 5 million, from 4.89 million in June, according to economists polled by Thomson Reuters.

The report is due out at 10 a.m. EDT.

The stock market has seesawed throughout the week on mixed economic news. Light summer trading volume could also be affecting the market, skewing gains and losses.

Overseas, European markets rose after mixed trading in Asia.

Ahead of the opening bell, Dow Jones industrial average futures rose 43, or 0.5 percent, to 9,363. Standard & Poor's 500 index futures rose 6.00, or 0.6 percent, to 1,010.70, while Nasdaq 100 index futures gained 5.25, or 0.3 percent, to 1,619.25.

Stocks rose moderately Thursday amid light trading. Investors latched on to some positive economic signs, such as a report showing a pickup in mid-Atlantic manufacturing, to help send the market higher. The Dow gained 0.8 percent, while the S&P jumped 1.1 percent.

The market began the week tumbling amid concern about consumer confidence. Investors have been closely watching for signs that consumers are starting to get more comfortable with a potential rebound and spend again. Consumer spending accounts for more than two-thirds of economic activity.

Retailer Gap Inc. reported slightly better-than-expected earnings after the market closed Thursday. However, like many other retailers, Gap said its sales fell as fewer customers made their way into stores.

Meanwhile, bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.45 percent, from 3.44 percent late Thursday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.17 percent from 0.15 percent late Thursday.

The dollar fell against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average fell 1.4 percent. In afternoon trading, Britain's FTSE 100 rose 1.1 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 rose 1.5 percent.

 

[drsmith]

US share futures up quiet strongly tonight.

I like to guess how far Dow will move from the futures and before anyone asks I dont back these guesses with money.

Tonight's guess in DJIA up 100 points.

 

[MACCA350]

DJIA up 144 at 11:56am ET

cheers

 

[MACCA350]

How's this, Dow vs All Ords for the week, Dow up 4% and posts a new high.....yet our All Ords have slid all week to close almost 4% down

Though looking at a 6 month chart, it seems the previous week or so saw a divergence between the Dow and All Ords and the last week has brought them back into parity.

Where to now, listening to the Business Channel last night things sound positive in the US.

cheers

 

[Buckeroo]

Where to now, listening to the Business Channel last night things sound positive in the US.
cheers

Interesting charts MACCA - would be interested to know when was the last time we had a similar divergence and a correction like this?

I see that Bernanke has finally called the recovery, hence the Dow's lift overnight.

Even with continuing bad news in unemployment, housing defaults, deficits and banks still going bust, he has the audacity to come out & say they are on the road to recovery.

Its more of a last stand as he knows they are running out of money & options - what a desperate goose he is!

Cheers

 

[MACCA350]

Interesting charts MACCA - would be interested to know when was the last time we had a similar divergence and a correction like this?

Looking at a 2 year chart, it's not uncommon:

cheers

 

[Real1ty]

Interesting charts MACCA - would be interested to know when was the last time we had a similar divergence and a correction like this?

I see that Bernanke has finally called the recovery, hence the Dow's lift overnight.

Even with continuing bad news in unemployment, housing defaults, deficits and banks still going bust, he has the audacity to come out & say they are on the road to recovery.

Its more of a last stand as he knows they are running out of money & options - what a desperate goose he is!

Cheers

The futures had been climbing all afternoon, since they turned around from the negative, and popped on the existing home sales jump to a 2 year high.

There is improving news globally in many different reports but those with a bearish outlook either disregard it or don't even see it as it doesn't suit their argument.

 

[Buckeroo]

There is improving news globally in many different reports but those with a bearish outlook either disregard it or don't even see it as it doesn't suit their argument.

Ahhh, this could also be said for people who are bullish ignoring all the bad news?

And existing home sales are up - so what? - just people with money taking advantage of give aways. I'm more concerned at the July figures for housing foreclosures jumping by 7% in the US.

Cheers

 

[Real1ty]

Ahhh, this could also be said for people who are bullish ignoring all the bad news?

And existing home sales are up - so what? - just people with money taking advantage of give aways. I'm more concerned at the July figures for housing foreclosures jumping by 7% in the US.

Cheers

How was the bad news ignored, the market has been smashed down.

As it was realised it might have gone too far, it started to correct and as the news improved or lets call it less bad it has continued to rise.

How many threads or posts do you see on here about "check out the improved results on report xxxx we are going to new highs"?
Very few, if any

How many do you see criticising the results as nothing more than fluff or misrepresented spin?
Plenty, the forum is full of them.

You say Bernanke is a desperate goose well excuse me but i think he has more credence and qualifications than any faceless experts on the internet and this forum, myself included.

Anyway, i'm getting too far off topic so i will leave it at that and i will try to refrain from replying to these type of posts from now on.

 

[Buckeroo]

How was the bad news ignored, the market has been smashed down.

As it was realised it might have gone too far, it started to correct and as the news improved or lets call it less bad it has continued to rise.

How many threads or posts do you see on here about "check out the improved results on report xxxx we are going to new highs"?
Very few, if any

How many do you see criticising the results as nothing more than fluff or misrepresented spin?
Plenty, the forum is full of them.

You say Bernanke is a desperate goose well excuse me but i think he has more credence and qualifications than any faceless experts on the internet and this forum, myself included.

Anyway, i'm getting too far off topic so i will leave it at that and i will try to refrain from replying to these type of posts from now on.

Well, count yourself told off Buckeroo, you naughty, naughty boy

Cheers

 

[drsmith]

DJIA up 144 at 11:56am ET

cheers

Tonight's forecast is for no change.

 

[bigdog]

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Stocks set for modestly higher open

Stock futures point to modestly higher open as investors look to build on momentum
By Stephen Bernard, AP Business Writer
On Monday August 24, 2009, 6:56 am EDT

NEW YORK (AP) -- Stock futures were rising Monday, pointing to a moderately higher open as investors look to build on last week's momentum that sent major indexes to their highest levels of the year.

U.S. markets are poised Monday to follow sharp gains overseas.

Investors were encouraged by Federal Reserve Chairman Ben Bernanke's declaration Friday that the economy is on the verge of recovery.

Traders will get plenty of data on housing and the consumer to sort through this week to determine if Bernanke's upbeat view can be backed up by actual activity.

A collapse of the housing market was one of the primary reasons the nation's economy fell into recession nearly two years ago. A better-than-expected report Friday on existing homes sales helped buoy the market along with Bernanke's comments.

Investors receive two reports on housing prices Tuesday and data on new home sales Wednesday.

Improved consumer confidence and spending is widely seen as one of the keys that could help end the recession. Consumer spending accounts for more than two-thirds of all economic activity.

On Tuesday, the Conference Board releases its monthly consumer confidence index. Reuters and the University of Michigan report their final consumer sentiment figures for August on Friday.

Ahead of the opening bell, Dow Jones industrial average futures are up 31, or 0.3 percent, at 9,520. Standard & Poor's 500 index futures are up 2.60, or 0.3 percent, at 1,027.80, while Nasdaq 100 index futures are up 4.50, or 0.3 percent, at 1,640.00.

On Friday, the Dow surged 1.7 percent, closing above 9,500 for the first time since Nov. 4, after Bernanke's encouraging words at an annual Fed conference in Wyoming. The S&P gained 1.9 percent, closing at its highest level since Oct. 6.

Meanwhile, bond prices were mixed on Monday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.56 percent from 3.57 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.17 percent from 0.16 percent late Friday.

The dollar mostly rose against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average surged 3.4 percent. In afternoon trading, Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 0.7 percent, and France's CAC-40 rose 0.7 percent.

188

 

[drsmith]

Stock futures point to modestly higher open as investors look to build on momentum

I didn't get to see the Dow futures last night but based on that I would have guessed up 100 again.

 

[bigdog]

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stock futures point to modestly higher open

Stock futures rise modestly ahead of house price, consumer sentiment reports
By Stephen Bernard, AP Business Writer
On Tuesday August 25, 2009, 6:46 am EDT

NEW YORK (AP) -- Stock futures were rising, pointing to a modestly higher opening Tuesday as investors await key readings on house prices and consumer confidence.

President Barack Obama is also expected to announce the reappointment of Ben Bernanke to a second four-year term as Federal Reserve chairman.

U.S. markets are moving opposite overseas markets, which were declining amid economic concerns in China.

Investors are entering trading cautiously ahead of a private research group's August consumer confidence reading. A recovery among consumers is considered vital to any potential economic rebound because their spending accounts for more than two-thirds of all economic activity.

Economists polled by Thomson Reuters expect the Conference Board's Consumer Confidence index to rise to 47.5 from 46.6 in July. Despite the expected improvement, consumers' confidence remains fragile amid ongoing job losses. A reading above 90 means the economy is on solid footing.

The report is due out at 10 a.m. EDT.

Traders also get a key report on house prices. The housing market, whose collapse helped lead to the recession more than a year ago, is showing signs of life as sales have started to pick up. However, prices continue to decline.

Stabilization in home prices would provide further indication that the housing sector is starting its recovery.

The Standard & Poor's/Case-Shiller Home Price index, which is due out at 9 a.m. EDT, measures changes in home prices in 20 major metropolitan markets. Analysts expect prices fell 16.5 percent in June, compared with the year-ago period. That would be a slight improvement from the 17.1 percent decline in May.

Ahead of the opening bell, Dow Jones industrial average futures rose 11, or 0.1 percent, to 9,504. Standard & Poor's 500 index futures rose 1.30, or 0.1 percent, to 1,025.80, while Nasdaq 100 index futures increased 2.00, or 0.1 percent, to 1,636.00.

Major indexes were little changed Monday after posting four consecutive daily gains last week. Stocks gave up early gains as financials retreated. Regional banks were especially hit hard amid concern about potential mounting losses from commercial real estate.

The Dow rose 3 points, while the S&P fell less than 1 point.

Meanwhile, bond prices fell slightly as the Treasury Department plans to kick off a new round of auctions. A total of $197 billion in Treasurys will be auctioned off throughout the week.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.49 percent from 3.48 percent late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.16 percent from 0.15 percent late Monday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average fell 0.8 percent. In afternoon trading, Britain's FTSE 100 declined 0.2 percent, Germany's DAX index fell 0.1 percent, and France's CAC-40 declined 0.1 percent.

 

[bigdog]

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stock futures trading in narrow range

Stock futures little changed ahead of durable goods, home sales reports
By Stephen Bernard, AP Business Writer
On Wednesday August 26, 2009, 6:44 am EDT

NEW YORK (AP) -- Stock futures are trading in a narrow range Wednesday as investors prepare for a key reading on orders to U.S. factories and the latest in a series of housing reports as the government releases data on new home sales.

Overseas, Asian markets advanced, but European markets fell slightly.

Looking for the latest signs of a potential economic recovery, traders are awaiting a Commerce Department report that is expected to show durable goods orders likely grew in July. Economists polled by Thomson Reuters predict orders to U.S. factories for items expected to last at least three years increased 3 percent in July, due in part to increased auto sales from the government's Cash for Clunkers program. Orders dipped 2.2 percent in June amid slowing commercial aircraft orders.

The report it due out at 8:30 a.m. EDT.

The Commerce Department is also expected to release new data that shows the hard-hit housing market is continuing its recovery. Economists predict new home sales likely rose 1.6 percent last month to a seasonally adjusted annual rate of 390,000, from 384,000 in June, according to Thomson Reuters.

The report is due out at 10 a.m. EDT.

Ahead of the opening bell, Dow Jones industrial average futures are down 13, or 0.1 percent, at 9,510. Standard & Poor's 500 index futures are down 2.00, or 0.2 percent, at 1,024.10, while Nasdaq 100 index futures rose 0.25, or less than 0.1 percent, at 1,636.75.

Stocks got a lift Tuesday after data on home prices added to beliefs the battered sector is stabilizing and recovering. The Standard & Poor's/Case-Shiller U.S. National Home Price Index rose 1.4 percent in the second quarter, the first quarterly increase in three years. It was the second straight month the price index rose.

Traders also welcomed a more upbeat report on consumer sentiment, sending the Dow up 0.3 percent and the S&P 0.2 percent. The Conference Board said Tuesday its Consumer Confidence Index jumped to 54.1 this month, far above the 47.5 reading economists expected. The strength of the consumer is considered vital to any potential recovery because consumer spending accounts for more than two-thirds of all economic activity.

Meanwhile, bond prices fell slightly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.45 percent from 3.44 percent late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.16 percent from 0.15 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 1.4 percent. In afternoon trading, Britain's FTSE 100 declined 0.1 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 declined 0.2 percent.

 

[bigdog]

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Stock futures point to modestly lower open

Stock futures modestly lower ahead of durable goods, home sales reports
By Stephen Bernard, AP Business Writer
On Wednesday August 26, 2009, 7:44 am EDT

NEW YORK (AP) -- Stock futures were modestly lower Wednesday as investors prepare for a key reading on orders to U.S. factories and the latest in a series of housing reports as the government releases data on new home sales.

Overseas, Asian markets advanced, but European markets fell slightly.

Looking for the latest signs of a potential economic recovery, traders are awaiting a Commerce Department report that is expected to show durable goods orders likely grew in July. Economists polled by Thomson Reuters predict orders to U.S. factories for items expected to last at least three years increased 3 percent in July, due in part to increased auto sales from the government's Cash for Clunkers program. Orders dipped 2.2 percent in June amid slowing commercial aircraft orders.

The report it due out at 8:30 a.m. EDT.

The Commerce Department is also expected to release new data that shows the hard-hit housing market is continuing its recovery. Economists predict new home sales likely rose 1.6 percent last month to a seasonally adjusted annual rate of 390,000, from 384,000 in June, according to Thomson Reuters.

The report is due out at 10 a.m. EDT.

Ahead of the opening bell, Dow Jones industrial average futures fell 24, or 0.3 percent, to 9,499. Standard & Poor's 500 index futures declined 3.30, or 0.3 percent, to 1,022.80, while Nasdaq 100 index futures fell 2.25, or less than 0.1 percent, to 1,634.25.

Stocks got a lift Tuesday after data on home prices added to beliefs the battered sector is stabilizing and recovering. The Standard & Poor's/Case-Shiller U.S. National Home Price Index rose 1.4 percent in the second quarter, the first quarterly increase in three years. It was the second straight month the price index rose.

Traders also welcomed a more upbeat report on consumer sentiment, sending the Dow up 0.3 percent and the S&P 0.2 percent. The Conference Board said Tuesday its Consumer Confidence Index jumped to 54.1 this month, far above the 47.5 reading economists expected. The strength of the consumer is considered vital to any potential recovery because consumer spending accounts for more than two-thirds of all economic activity.

Meanwhile, bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.44 percent compared with late Tuesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.16 percent from 0.15 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average rose 1.4 percent. In afternoon trading, Britain's FTSE 100 declined 0.5 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 declined 0.4 percent.

 

[bigdog]

http://finance.yahoo.com/news/Stock...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Stock futures little changed ahead of open

Stock futures trading in narrow range ahead of weekly unemployment report
By Stephen Bernard, AP Business Writer
On Thursday August 27, 2009, 8:00 am EDT

NEW YORK (AP) -- Stock futures are trading in a narrow range Thursday as the market's five-month rally appears to be losing steam.

Investors could try to find some new momentum after the Labor Department releases its weekly unemployment report and the Commerce Department provides a revised estimate on the economy's performance in the second quarter.

Overseas, Asian stocks fell after China said it would cut excessive investment in some industries, while European stocks were mixed.

A weekly report, due out at 8:30 a.m. EDT, is expected to show the number of workers filing for unemployment benefits for the first time likely fell last week, reversing the trend of the previous two weeks. Economists polled by Thomson Reuters expect the number of claims to fall to a seasonally adjusted 565,000 from 576,000 the previous week.

While jobless claims have been trending downward in recent months, economists still widely predict the unemployment rate will rise above 10 percent, from the current 9.4 percent.

Continuing claims are expected to remain flat at about 6.2 million.

Ahead of the opening bell, Dow Jones industrial average futures fell 1, or less than 0.1 percent, to 9,525. Standard & Poor's 500 index futures fell 0.04, or less than 0.1 percent, to 1,026.40 while Nasdaq 100 index futures declined 1.25, or 0.1 percent, to 1,635.25.

A revised gross domestic product reading is expected to show the economy shrank at an annualized rate of 1.5 percent in the second quarter, slightly worse than the first estimate of a decline of 1 percent.

GDP measures the value of all goods and services produced within the U.S. The revised report is due out at 8:30 a.m. EDT.

In corporate news, luxury homebuilder Toll Brothers Inc. said it lost $472.3 million in its fiscal third quarter due to a tax-related allowance and a write-down. Toll Brothers would have been profitable had it not been for the charges. The company has said there are signs of improvements in some markets.

On Wednesday, the Dow rose just 4 points, while the S&P and Nasdaq eked out gains of less than 1 point despite further signs the economy might be on the mend. The Commerce Department reported that new home sales rose 9.6 percent in July for the fourth straight monthly increase. The department also said factory orders for goods expected to last at least three years rose 4.9 percent in July, the biggest jump in two years and easily eclipsing economists' expectations.

During a rally that has sent stocks up by more than 45 percent since March, traders have typically welcomed better-than-expected economic reports by buying heavily in the market. That was not the case Wednesday.

Meanwhile, bond prices dipped slightly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.46 percent from 3.44 percent late Wednesday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.15 percent from 0.14 percent late Wednesday.

The dollar mostly fell against other major currencies, while gold prices rose.

Overseas, Japan's Nikkei stock average fell 1.6 percent. In afternoon trading, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 rose less than 0.1 percent.

 

[bigdog]

http://finance.yahoo.com/news/US-st...tml?x=0&sec=topStories&pos=main&asset=&ccode=

US stock futures lower after sell-off in Asia

Stock futures tumble after big drop in Asia as investors cautious on last day of August
By Sara Lepro, AP Business Writer
On Monday August 31, 2009, 7:57 am EDT

NEW YORK (AP) -- Stocks moved toward a lower opening Monday following a big drop in Asian markets.

U.S. stock futures fell after China's main index plunged 6.7 percent, adding to a nearly 3 percent drop on Friday. The selloffs in Chinese shares have been fueled by growing concerns over a tightening in bank lending and have weighed on markets around the globe this month.

Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. European markets were also lower.

Investors are heading in to the last day of August cautiously. There is little economic news scheduled for Monday, but key readings come later this week on manufacturing and employment in August that have the ability to either sustain or upset the market's massive six-month rally.

After rising more than 45 percent from 12-year lows in March, the Dow Jones industrial average stands less than 500 points away from 10,000. Investors have grown increasingly worried that the market may have gotten too far ahead of the economy. Without evidence of actual economic growth, analysts have warned that the market's rally could fizzle in the coming weeks, especially as traders head into September, historically a rough month for the stock market.

Ahead of the market's open, Dow Jones industrial average futures fell 59, or 0.6 percent, to 9,477. Standard & Poor's 500 index futures fell 5.70, or 0.6 percent, to 1,021.70, while Nasdaq 100 index futures fell 11, or 0.7 percent, to 1,631.50.

In corporate news, oilfield services company Baker Hughes Inc. said it will buy BJ Services Co. in a cash-and-stock deal valued at $5.5 billion.

BJ Services shares shot up nearly 11 percent in premarket trading, adding $1.68 to $17.11. Baker Hughes shares fell $1.10, or 2.9 percent, to $36.99.

Stocks are on track to have their best August since 2000, with the Dow and the S&P 500 up just over 4 percent for the month as of Friday. Most of the gains were made earlier this month as investors cheered improvements in consumer confidence and an upbeat assessment of the economy from Federal Reserve Chairman Ben Bernanke.

Last week, the major indexes all rose less than 0.5 percent amid light trading and little news.

Trading is expected to be relatively light this week as well, with many traders taking vacations ahead of the Labor Day holiday. Light volume can skew the market's movements. Still, there are a number of important readings on the economy that could sway the market one way or the other.

On Tuesday, the Institute for Supply Management will issue its assessment of the manufacturing industry during August. Economists are expecting a reading of 50.1, up from 48.9 in July. If the report meets expectations and comes in above 50, it would signify that the sector is expanding.

The most important piece of data this week is the government's monthly jobs report on Friday. Economists are expecting another 220,000 jobs were lost, down from 247,000 in July. Last month's report showed an unexpected dip in the unemployment rate and investors are anxious to see if the rate continues to fall.

As unemployment spiked this year, Americans who lost their jobs or were worried about their job security dramatically cut back on their spending. If fewer jobs are being lost, consumers might start to feel comfortable spending again and help get the economy back on its feet.

August sales reports from major retailers this week will provide the latest insight into consumers' spending habits.

In other trading Monday, bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.41 percent from 3.45 percent late Friday.

The dollar was higher against other major currencies, while gold prices fell.

Oil prices lost $1.38 to $71.36 a barrel in electronic trading on the New York Mercantile Exchange.

Germany's DAX index was down 0.6 percent, while France's CAC-40 was down 0.7 percent in afternoon trading. The London Stock Exchange was closed for a public holiday

 

[drsmith]

Down 200.

 

[bigdog]

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US stock futures fall ahead of manufacturing data

Stocks look to start September with a lower open, market awaits data on manufacturing, housing
By Sara Lepro, AP Business Writer
On Tuesday September 1, 2009, 7:08 am EDT

NEW YORK (AP) -- U.S. stocks are pointing to a lower opening as investors await data on manufacturing and housing.

The decline in stock futures comes as European shares drop after a slight rebound in Asian markets. Investors are worried that after a six-month rally in stocks around the world, markets are looking a little overvalued considering the economy's ongoing challenges. In Europe, data showed the euro zone's unemployment rate hit a new 10-year high in July.

As September -- a historically a tough month for stocks -- gets under way, investors will be looking to reports on manufacturing activity, home sales and construction spending for further evidence of the economy's health. Sales reports from automakers will also be closely watched.

The Institute for Supply Management, a trade group of purchasing executives, is expected to report that U.S. manufacturing experienced growth in August for the first time in 18 months. Economists are expecting the index will read 50.5 in August, compared with 48.9 in July. A reading above 50 indicates growth.

Meanwhile, an index that tracks pending U.S. home sales is forecast to rise in July for the sixth straight month, providing more evidence that the housing market is recovering. And construction spending is expected to be flat in July after growing in June.

Many automakers are set to post strong sales results for August thanks to the government's Cash for Clunkers program.

But analysts warn that sales could show a steep drop in sales in September and following months.

Ahead of the market's open, Dow Jones industrial average futures fell 62, or 0.7 percent, to 9,424. Standard & Poor's 500 index futures fell 7.60, or 0.8 percent, to 1,012.10, while Nasdaq 100 index futures fell 13.50, or 0.8 percent, to 1,611.50.

Overseas, China's Shanghai Composite Index rose 0.6 percent after a 6.7 percent plunge the day before that set off a wave of selling around the globe, including in the U.S. where major stock indicators posted moderate losses. The Dow fell about 48 points, its biggest drop in two weeks.

The sell-off in Chinese stocks, which have been volatile this month, was driven by concerns over that country's economy. Investors are worried about what that means for other economies that are so intertwined with China's, including the U.S.

Despite the market's concerns, and subsequent periods of choppy trading, stocks managed to have a pretty decent August. The Standard & Poor's 500 index rose 3.4 percent for its sixth straight monthly gain. It is up 50.9 percent since early March, the best six-month advance since 1938.

In other trading Tuesday, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 dropped 1.2 percent in late morning trading, while Germany's DAX index tumbled 1.5 percent and France's CAC-40 was down 0.9 percent.

Bond prices were little changed early Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, held steady at 3.40 percent.

The dollar was mixed against other major currencies, while gold prices fell.

Oil prices slid 7 cents to $69.89 a barrel in premarket trading on the New York Mercantile Exchange.