Apple's shares were down 3.2 percent at $96.85 premarket after the
company also posted its slowest-ever rise in iPhone shipments.
Crude prices resumed their decline after an unexpected rise in U.S.
inventories erased optimism about the possibility of the world's top
producers coming together to address a massive glut. [O/R]
Global stocks took a hit from the slump in oil, as anxious investors
await the U.S. Federal Reserve's statement on monetary policy due at
2:00 p.m. ET.
"Markets are not happy and they haven't been happy the whole month,"
said Omar Aguilar, chief investment officer of equities at Charles
Schwab Investment Management in New York.
"Generally, for the whole month, people have been concerned about
global growth, China, and really, really concerned about oil," he
While an interest-rate hike is not expected today, investors will be
keen to see the Federal Reserve's reaction to the current turmoil in
At 8:31 a.m. ET, Dow e-minis were down 66 points, or 0.41
percent, with 53,594 contracts changing hands. S&P 500 e-minis
<ESc1> were down 4.5 points, or 0.24 percent, with 271,254 contracts
traded. Nasdaq 100 e-minis <NQc1> were down 18.5 points, or 0.44
percent, on volume of 49,827 contracts.
With earnings season in full swing, investors are likely to cheer
companies that report revenue growth in turbulent conditions.
Boeing dropped 6.6 percent to $119.60 after the company's
earnings forecast missed expectations.
[to top of second column]
AT&T was down 2.6 percent at $34.48 and Textron was down 7.2 percent
at $35 after both companies posted revenue below estimates.
TripAdvisor was down 5.9 percent, Priceline was off 3.5 percent and
Expedia percent, after Goldman Sachs downgraded travel-related
Among the few gainers, Biogen <BIIB.O> was up 5.4 percent at $273.90
after its profit beat expectations.
Tech majors Facebook <FB.O>, Qualcomm <QCOM.O> and eBay <EBAY.O> are
slated to report after the close.
Data is expected to show U.S. single-family home sales rose for the
third straight month in December. The report is due at 10:00 a.m.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil
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