US pre-open: Futures slightly lower as investors await key earnings and data

Wall Street futures had stocks opening slightly lower ahead of the bell on the first day of February trading.

As of 1215 GMT, Dow Jones futures were down 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.25% and 0.18% lower, respectively.

The Dow closed 406.39 points higher on Monday, wrapping a rollercoaster month on a positive note.

Tuesday's primary focus will be more earnings from some of the nation's largest firms, both during the session and after the close, as well as a few key data points scheduled for publication throughout the morning.

The benchmark 10-year Treasury note was also in focus, with the yield dropping back slightly to 1.743%.

On the macro front, IHS Markit's final January manufacturing PMI will be released at 1445 GMT, while the Institute for Supply Management's January manufacturing PMI and December construction spending figures will follow at at 1500 GMT.

AvaTrade's Naeem Aslam said: "American futures are trading lower while European futures are up as stock traders look forward to today's job openings report to be published by the Bureau of Labor Statistics in the United States. This report is important as the state of the labor market is a key factor that the Federal Reserve takes into account while deciding on its future monetary policies. It is a leading indicator of how employment levels in the country may change in the short term.

"We are also expecting the manufacturing purchasing managers' index to be released today. Investors can use these two reports to forecast at what pace the American economy will likely grow over the next few months."

In the corporate space, Stanley, Black & Decker posted full-year organic revenue growth and adjusted diluted earnings per share expansion of 30% on Tuesday, leading the firm to issue 2022 guidance ahead of estimates.

Still to come, Exxon will report throughout the session, while Alphabet, Electronic Arts, Chubb, General Motors, Paypal, AMD, Starbucks and Gilead Sciences will all report after the close.