U.S. stocks on Tuesday were set for a slightly weaker open as investors returned from the long holiday break, with technology stocks coming under pressure as shares of Apple Inc., fell in premarket trading.
What are indexes doing?
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Futures for the Dow Jones Industrial Average were down 55 points, or 0.2%, to 24,711, while those for the S&P 500 index dipped 1.60 points to 2,684.50. Futures for the Nasdaq-100 index dropped 34.50 points, or 0.5%, to 6,449.50.
Last week (http://www.marketwatch.com/story/us-stocks-on-track-for-weekly-rise-with-data-deluge-on-deck-2017-12-22), the Dow Jones Industrial Average and the S&P 500 posted a fifth straight week of gains ahead of the holiday, gaining 0.4% and 0.3%, respectively. The Nasdaq Composite rose 0.3% as well for the week.
What's driving the market?
In a holiday shortened week, with most global markets closed on Monday, volumes may stay low given many traders may stay away until after New Year. European markets are closed Tuesday in observance of Boxing Day.
Meanwhile, S&P Case-Shiller 20-city home-price index was up 6.4% from year ago in October.
See:MarketWatch's economic calendar (http://www.marketwatch.com/economy-politics/calendars/economic)
Which stocks are in focus?
Apple (AAPL) shares are down nearly 2% in premarket. A couple of the iPhone maker's suppliers declined in Taiwan over a report of tepid iPhone X demand.
Need to know:The Apple 'X' factor that could deliver new year stress for investors (http://www.marketwatch.com/story/the-apple-x-factor-that-could-deliver-new-year-stress-for-investors-2017-12-26)
Global specialty pharmaceuticals group Mallinckrodt PLC(MNK) announced a deal to buy Sucampo Pharmaceuticals Inc. (SCMP) in a deal valued at $1.2 billion, including debt. Shares of Sucampo were up over 5% in premarket trading. Mallinkrodt shares were unchanged.
What are other markets doing?
Oil and gold were also in the red, while the dollar index was flat around 93.307.
Bitcoin futures are atop $15,000 as the cryptocurrency is also swinging higher Tuesday (http://www.marketwatch.com/story/bitcoin-on-the-rebound-futures-prices-also-above-15000-2017-12-26).
(END) Dow Jones Newswires
December 26, 2017 09:22 ET (14:22 GMT)