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 * Wal-Mart shares fell 2.5 percent to $70.09 in premarket trading
after the Dow component reported weaker-than-expected quarterly
earnings and lowered its full-year forecast.
* Chinese stocks plunged again as the yuan weakened against the
dollar, re-igniting fears that Beijing may be intent on a deeper
devaluation of the currency despite the central bank's comment that
it sees no reason for a further slide.
* U.S. oil prices and industrial metals, including copper, also
traded near six-year lows, adding to the bearish market sentiment
amid worries over China's growth outlook.
* Wall Street closed higher on Monday after strong economic data
boosted the housing sector and as investors bought recently battered
shares in biotech and media.
* Investors will keep a sharp eye on additional housing data, due at
8:30 a.m. ET (1230 GMT), that is expected to show that U.S. housing
starts likely increased in July, fueled by strong demand for rental
apartments.
* Economic data points are being carefully evaluated by investors
for signs regarding the health of the economy in face of an
impending rate hike by the U.S. Federal Reserve for the first time
in nearly a decade.
* The U.S. central bank has said it will hike long-term interest
rates only when it sees a sustained recovery in the economy and many
investors are factoring in a September liftoff as the labor market
continues to gain in strength.
* However, global macro concerns, especially worries regarding
China's slowing growth, and as inflation remains below the 2 percent
growth that the Fed would like to see, could force them to wait
until December to raise rates.
* With earning season winding down, all eyes are on the Wednesday
minutes from the Fed's latest meeting, for clues regarding the
timing of a hike.
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* In corporate news, Dow component Home Depot inched up nearly 1
percent to $120.85 after the world's No.1 home improvement retailer
reported a better-than-expected rise in quarterly same-store sales.
* Esperion Therapeutics jumped 12.5 percent to $85 after the drug
developer said its cholesterol-lowering drug's development was on
track.
Futures snapshot at 7:07 a.m. ET:
* S&P 500 e-minis were down 5 points, or 0.24 percent, with 122,128
contracts traded.
* Nasdaq 100 e-minis were down 13.25 points, or 0.29 percent, on
volume of 16,279 contracts.
* Dow e-minis were down 45 points, or 0.26 percent, with 17,217
contracts changing hands.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Savio D'Souza)
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