U.S. stock index futures pointed to a mixed start for Wall Street on Tuesday after U.S. shares ended flat in the previous session as investors took a breather from a four-day rally.
Futures for the S&P 500 and the Dow Jones industrial average were down 0.1 percent, while those for the Nasdaq Composite were up 0.1 percent at 4:05 a.m. EDT.
U.S. President Barack Obama will renominate Ben Bernanke for a second term as chairman of the Federal Reserve on Tuesday, a senior administration official said.
The dollar showed little reaction to the news as market participants had anticipated there was a good chance Bernanke would be given a second term to reassure financial markets as they recover from the global economic crisis, analysts said.
Cisco Systems Inc
U.S. securities regulators are examining weekly meetings at Goldman Sachs
Lowe's Companies Inc
The White House and U.S. Congress will issue separate budget estimates on Tuesday that could slow President Obama's domestic policy proposals as he faces increased skepticism among lawmakers.
The market will be eyeing the S&P Case-Shiller U.S. home price index for June at 9:00 a.m. EDT, U.S. home prices for June at 10:00 a.m. and U.S. consumer confidence at 10:00 a.m.
Private equity firm TPG
Faro Technologies Inc
Pride International Inc
European shares <.FTEU3> fell 0.6 percent in early trade on Tuesday after hitting their highest closing level in more than 10 months in the previous session.
In Asia, Japan's Nikkei average <.N225> fell 0.8 percent, while Chinese stocks <.SSEC> lost 2.6 percent.
U.S. stocks ended the day barely changed on Monday as investors took a break from a four-day rally that lifted major indexes to 10-month highs. Wall Street initially charged higher, but a sharp gain in U.S. Treasury debt prices, which drove benchmark yields lower, triggered a sell-off in stocks.
The Dow Jones industrial average <.DJI> rose 3.32 points, or 0.03 percent, to end at 9,509.28. But the Standard & Poor's 500 Index <.SPX> inched down just 0.56 of a point, or 0.05 percent, to 1,025.57 and the Nasdaq Composite Index <.IXIC> shed 2.92 points, or 0.14 percent, to 2,017.98.
(Reporting by Dominic Lau; editing by John Stonestreet)