|
There will be little in the way of economic news, and some investors might take the opportunity to position themselves ahead of key housing data to be released Wednesday. The National Association of Realtors reports on report existing home sales for June.
Dow futures expiring in September fell 16, or 0.12 percent, to 13,995, while Standard & Poor's 500 index futures shed 0.70, or 0.05 percent, to 1,548.30. Nasdaq 100 index futures dropped 2.50, or 0.11 percent, to 2,051.00.
AT&T is expected to report a profit of 67 cents a share, while McDonald's is projected to post a profit of 71 cents per share, according to analysts polled by Thomson Financial.
Texas Instruments Inc. said late Monday that second-quarter profit fell from a year ago but was still able to meet Wall Street projections. The largest supplier of chips used in mobile phones is expected to open sharply lower after losing ground in after-hours trading Monday.
Dow component American Express Co. reported after the bell that quarterly profit climbed 12 percent on record card member spending. However, the nation's third-largest credit card brand said cardholders are also shirking more payments, which could weaken shares on Tuesday.
[to top of second column]
 |
 Shares of Netflix Inc. are expected to tumble after the DVD rental service reported that the number of subscribers shrank for the first time in its 8-year history. The company was still able to report a gain for the second quarter.
Meanwhile, Wall Street will be watching for any new developments in Rupert Murdoch's News Corp.'s attempts to purchase Dow Jones & Co. The family that controls the publisher of The Wall Street Journal is expected to decide within days if it will approve the $5 billion offer.
Overseas, Japan's Nikkei stock average fell 0.21 percent. Britain's FTSE 100 dropped 0.56 percent, Germany's DAX index fell 0.58 percent, and France's CAC-40 fell 0.44 percent.
___
On the Net:
New York Stock Exchange: http://www.nyse.com/
Nasdaq Stock Market: http://www.nasdaq.com/
[Associated Press;
by Joe Bel Bruno]
Copyright 2007 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
 |
