Worries about Comey, Qatar and more help to 'curb risk appetite'
U.S. stock futures on Tuesday signaled a small drop at the open, with analysts blaming the modest retreat on worries over a raft of geopolitical events later this week, including former FBI boss James Comey's testimony to a Senate panel.
S&P 500 futures fell by 2.75 points, or 0.1%, to 2,431.75, while Dow Jones Industrial Average futures shed 21 points, or 0.1%, to 21,155. Nasdaq-100 futures gave up 2.25 points, or less than 0.1%, to 5,878.50.
Gold futures (http://www.marketwatch.com/story/gold-rises-looks-to-settle-at-7-week-high-2017-06-06) , the Japanese yen (http://www.marketwatch.com/story/dollar-falls-against-yen-as-analysts-see-flight-to-safety-due-to-geopolitical-fears-2017-06-06) and other safety plays were finding buyers, thanks in part to concerns about a spat between Qatar (http://www.marketwatch.com/story/saudi-arabia-bahrain-uae-sever-diplomatic-relations-with-qatar-2017-06-04) and other Middle Eastern nations.
Read: What you need to know about Saudi Arabia's break with Qatar (http://www.marketwatch.com/story/heres-what-you-need-to-know-about-saudi-arabias-spat-with-qatar-2017-06-05)
There are also jitters over three events due Thursday: the U.K. election, a European Central Bank announcement, and Comey's testimony before the Senate panel, which is investigating Russian efforts to interfere (http://www.marketwatch.com/story/nsa-report-says-russians-targeted-us-voting-infrastructure-alleged-leaker-arrested-2017-06-05) in last year's presidential race.
Read:What to watch when James Comey testifies to the Senate on Thursday (http://www.marketwatch.com/story/what-to-watch-when-james-comey-testifies-to-the-senate-on-thursday-2017-06-05)
Geopolitical concerns are "helping to drive safe haven flow and curb risk appetite," said Richard Perry, a Hantec Markets analyst, in a note.
Check out: U.K. election -- the worst, best and most likely scenarios for stocks worldwide (http://www.marketwatch.com/story/uk-election-the-nightmare-best-case-and-most-likely-scenarios-for-stocks-worldwide-2017-06-01)
On Monday, the S&P 500 , Dow and Nasdaq Composite all finished lower by between 0.1% and 0.2% (http://www.marketwatch.com/story/us-stock-futures-brush-off-uk-terror-attacks-as-busy-week-kicks-off-2017-06-05), pulling back from all-time closing highs achieved Friday (http://www.marketwatch.com/story/us-stocks-poised-to-bust-out-new-records-as-optimism-about-payrolls-data-builds-2017-06-02).
Other markets: Oil futures edged lower, and European markets (http://www.marketwatch.com/story/european-stocks-set-for-1-week-low-as-caution-sets-in-2017-06-06) also lost ground. Asian equities finished mixed (http://www.marketwatch.com/story/asian-markets-slip-as-investors-turn-cautious-2017-06-05), and a key dollar index was slightly lower after earlier showing a bigger loss and touching levels last seen in November (http://www.marketwatch.com/story/dollar-falls-against-yen-as-analysts-see-flight-to-safety-due-to-geopolitical-fears-2017-06-06).
Economic news: An April figure for job openings is slated to arrive at 10 a.m. Eastern Time.
(END) Dow Jones Newswires
June 06, 2017 05:47 ET (09:47 GMT)