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Chinese stocks dropped almost 4 percent on Tuesday, denting
hopes that a slew of stimulus measures by Beijing over the past
three months had brought some stability to the market.
Chinese investment and factory output data for August released
on Monday fell short of market forecasts.
U.S. markets are expected to stay on edge until Thursday when
the Fed is due to decide whether to raise interest rates for the
first time since 2006.
A broad group of economists polled by Reuters last week bet on a
September move by a slim margin. Economists at banks that deal
directly with the Fed picked December as more likely, while
traders of short-term interest rate futures were giving a rate
rise this week only a one-in-four chance.
U.S. data due on Tuesday includes retail sales data for August
at 8:30 a.m. ET, which is expected to have increased 0.3 percent
after a 0.6 percent rebound in July.
Industrial production is forecast to have slipped 0.2 percent
last month. That data is expected at 9:15 a.m. ET. Data at 10
a.m. ET is expected to show that business inventories are likely
to have added 0.1 percent in July after gaining 0.8 percent in
June.
Shares of Fiat Chrysler Automobiles <FCAU.N> were up 3.3 percent
at $14.80 premarket after the United Auto Workers union said it
will keep talking with the automaker to reach a new contract for
the company's U.S. factory workers, delaying a possible strike
at its most profitable operations.
(Reporting by Tanya Agrawal; Editing by Don Sebastian)
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