By Anora Mahmudova and Barbara Kollmeyer, MarketWatch
NEW YORK (MarketWatch) -- U.S. stock futures drifted lower early
Tuesday as investors digested earnings beats and misses, but kept
their attention firmly focused on the hotly anticipated Apple
Inc.'s product event later in the day.
Futures for the Dow Jones Industrial Average (SPU4) were down 7
points to 17,093 and those for the S&P 500 index (SPU4) were
down less than a point at 2,000.10. Futures for the Nasdaq-100
index (NDU4) were flat at 4,093.75.
Among economic news, small-business sentiment in August nudged
up to its second-highest reading since October 2007, a trade group
said Tuesday. Data on job openings for July is due at 10 a.m.
Eastern. Also read: Michael Sincere on why this stock market will
never go down
On Monday, the S&P 500(SPX) closed off 0.3% to 2,001,
pulling back from Friday's record close, while the Nasdaq Composite
(RIXF) rose 0.2%. Tech stocks may lead the action on Tuesday, given
the spotlight on Apple.
Stocks to watch: The iPhone maker (AAPL) will hold its product
event at 10 a.m. PDT (1 p.m. Eastern) near its headquarters in
Cupertino, Calif. The newest version of its flagship phone and an
iWatch wearable device are among key things that could help boost
shares of Apple. Also read: Tim Mullaney on why Apple exemplifies
everything that's wrong about Silicon Valley.
McDonald's (MCD) on Tuesday said global comparable sales fell
3.7% in August, with the fast-food giant blaming "several
headwinds" for the decline. Shares were slightly lower premarket.
Also read: The secret to a long life? Fast food
Shares of Annie's Inc.(BNNY) rose 37%, on the heels of a similar
late-session rally after General Mills Inc. (GIS) offered to buy
the organic foods company for $820 million in cash.
Shares of Pinnacle Foods Inc.(PF) fell 3.8% in premarket trade
after the packaged-foods company said shareholders tied primarily
to investment firm Blackstone will sell 15 million common
shares.
Barnes & Noble Inc. (BKS) shares fell 3.9% after the
bookseller reported quarterly results. Same-store sales fell by
more than expected. Read about more of the day's notable stock
moves here.
Other markets: Brent crude oil prices held steady at $100 a
barrel, while the dollar charted new highs against the yen (USDJPY)
and the euro (EURUSD). Europe stocks posted mild losses, while Asia
markets saw mostly modest gains overnight.
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