US pre-open: Stocks seen touch weaker; Goldman Sachs results eyed
US futures pointed to a mildly weaker open on Wall Street as investors awaited key earnings from the likes of Goldman Sachs.
At 1100 BST, Dow Jones Industrial Average futures were down 0.2%, while S&P 500 and Nasdaq futures were 0.3% lower.
On Monday, equities in the US closed at record highs, with the Dow racking up its seventh straight day of gains on the back of well-received results from Bank of America, which boosted the banking sector overall.
IG’s Chris Beauchamp said: “The ‘wall of worry’ appears to be getting bigger, with investors trimming some positions after a good run that has seen some markets hit new all-time highs.
“The situation in Turkey continues to provide cause for concern, as it becomes more and more apparent that President Erdogan is taking this opportunity to tighten his grip on the country in a way that will concern both the EU and NATO.”
In Europe, the main indices were in the red, led lower by basic resources amid declining metals prices and after the latest ZEW survey showed German investor sentiment fell to its lowest level since November 2012 in July on Brexit fears.
At the same time, oil prices slipped, with West Texas Intermediate down 0.2% at $45.17 a barrel and Brent crude down 0.3% at $46.83.
On the corporate front, Goldman Sachs, Johnson & Johnson, Lockheed Martin and Philip Morris International were slated to report earnings before the open.
Elsewhere, Netflix was likely to be in focus after the company said it added fewer than expected subscribers in the three months to June.
Yahoo was also likely to be eyed after its adjusted earnings released late on Monday fell short of analysts’ expectations.
In macroeconomic news, US housing starts and building permits are due at 1330 BST.