Dollar falls after Senate's health care bill is scuttled
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U.S. stock futures on Tuesday pointed lower at the open, as investors grappled with a mixed batch of earnings reports and weaker-than-expected economic data.
Netflix's earnings-driven leap was offset by drops for Harley-Davidson Inc. and Goldman Sachs Group Inc, following their results.
S&P 500 futures inched down by 6, or 0.2%, to 2,453, while Dow Jones Industrial Average futures were off by 40 points, or 0.2% at 21,540. Nasdaq-100 futures lost 17 points, or 0.3%, to 5,838.
On Monday, the S&P 500 and Dow finished down by less than 0.1% (http://www.marketwatch.com/story/us-stock-futures-hold-steady-as-investors-get-ready-for-big-earnings-week-2017-07-17), edging away from their all-time closing highs hit Friday. The Nasdaq Composite added less than 0.1%, creeping nearer to its June 8 record close.
The dollar (http://www.marketwatch.com/story/dollar-falls-after-senate-republicans-abandon-bill-to-replace-obamacare-2017-07-18) fell early Tuesday against its main rivals after Republican leaders in the Senate late Monday ditched their effort to repeal and simultaneously replace Obamacare (http://www.marketwatch.com/story/health-care-overhaul-seems-sunk-as-two-more-republicans-oppose-senate-bill-2017-07-17), also known as the Affordable Care Act.
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Individual movers: Shares in Netflix (NFLX) jumped ahead of the bell after the streaming giant late Monday posted larger-than-expected growth in subscribers while reporting quarterly earnings. The stock climbed nearly 9% for the S&P 500's biggest premarket gain.
Read:Netflix hits another major milestone, stock heads for records (http://www.marketwatch.com/story/netflixs-international-focus-pays-off-with-big-milestone-stock-heads-for-records-2017-07-17)
And: It may be time to tread carefully with Netflix shares (http://www.marketwatch.com/story/its-been-a-great-ride-for-netflix-but-you-may-want-to-hop-off-here-2017-07-18)
But Harley-Davidson (HOG) fell more than 9% before the open for the S&P's biggest premarket loss, as the motorcycle maker's better-than-expected earnings for the second quarter were overshadowed by lowered guidance for the year (http://www.marketwatch.com/story/harley-davidson-shares-slide-5-premarket-after-company-lowers-full-year-guidance-2017-07-18).
Goldman Sachs(GS) shares dropped 1% after quarterly results (http://www.marketwatch.com/story/goldman-sachs-stock-slips-as-trading-slumps-2017-07-18).
Bank of America(BAC) gave up 0.3% premarket as the banking giant's profit and revenue topped Wall Street's estimates, but trading slumped (http://www.marketwatch.com/story/bank-of-america-trading-slumps-shares-dip-2017-07-18).
UnitedHealth Group Inc.(UNH) posted quarterly profit that beat expectations and sales that matched forecasts (http://www.marketwatch.com/story/unitedhealth-profit-rises-above-expectations-while-sales-grew-in-line-2017-07-18), while Johnson & Johnson's (JNJ) earnings beat but sales missed (http://www.marketwatch.com/story/johnson-johnson-tops-profit-estimates-but-sales-fall-short-2017-07-18).
Charles Schwab(SCHW) and Lockheed Martin Corp.(LMT) are also among the companies expected to post earnings before the open.
Economic news: A June reading on U.S. import prices dropped by 0.2%. A July figure for a home builders' index at is due at 10 a.m. Eastern.
Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)
Other markets:Oil futures (http://www.marketwatch.com/story/oil-prices-edge-up-recovering-a-little-from-prior-days-slump-2017-07-18) were gaining, recovering from the prior day's slump. European equities (http://www.marketwatch.com/story/european-stocks-pulled-lower-by-stronger-euro-2017-07-18) were mostly lower, while Asian markets closed mixed (http://www.marketwatch.com/story/asian-markets-fall-on-dollars-weakness-2017-07-17). Gold futures traded modestly higher.
(END) Dow Jones Newswires
July 18, 2017 08:54 ET (12:54 GMT)