US pre-open: Futures trade lower ahead of Q4 earnings
Wall Street futures were in the red ahead of the bell on Tuesday as market participants braced for more corporate earnings.
As of 1220 GMT, Dow Jones futures were down 0.17%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.24% and 0.35% lower, respectively.
The Dow closed 112.64 points higher on Friday ahead of the Martin Luther King Jr Day long weekend.
Corporate earnings will be in focus on Tuesday, with Bank of New York Mellon, Goldman Sachs, Morgan Stanley, and United Airlines will all report earnings throughout the course of the day.
Scope Markets' James Hughes said: "Major indices on Wall Street are eyeing modest declines as they return from the extended weekend break. Last week’s inflation data may offer stocks something of a tailwind but given the extent of the collective provisions we have seen made by banks already against bad debts, there's clear concern that a recession is coming.
"Today also sees earnings highlights which will include Morgan Stanley and Goldman Sachs before the bell, with United Airlines following after the close. The banks may well dominate, but any guidance from the travel industry will again be welcome, specifically whether the current upbeat trajectory can be maintained."
On the macro front, January's New York Empire State manufacturing index will be published at 1330 GMT, while Federal Reserve Bank of New York president John Williams will deliver a speech at 2000 GMT.
Reporting by Iain Gilbert at Sharecast.com