NEW YORK (TheStreet) -- Stock futures were pointing to a lower open ahead of the release of the minutes from the Federal Open Market Committee's last policy-setting meeting.
Futures for the Dow Jones Industrial Average were lower by 27 points, or 17 points below fair value, at 10,936. Futures for the S&P 500 were down by 3 points, or 3 points below fair value, at 1159, while Nasdaq futures were off by 5 points, or 4 points below fair value.
Stocks finished Monday's session mildly higher during a sluggish trading session as investors largely remained on the sidelines ahead of the FOMC meeting minutes release and key earnings reports due out later in the week.Overseas, Hong Kong's Hang Seng fell 0.4%, and Japan's Nikkei fell 2.1% after China reportedly increased reserve requirements for six banks to damp lending and contain inflation. The FTSE in London was falling 0.4%, and the DAX in Frankfurt was down by 0.05%. Kansas City Federal Reserve Bank President Thomas Hoenig is scheduled to discuss the economic outlook and monetary policy on Tuesday morning at the National Association for Business Economics annual meeting in Denver. At 2 p.m. ET, the Federal Reserve's policy-setting arm will release the minutes from its Sept. 21 meeting. Investors will be eager to see what FOMC members said about quantitative easing and the recovery.
|Federal Reserve Chairman Ben Bernanke|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV