NEW YORK ( TheStreet) -- U.S. stock futures were suggesting Wall Street would open lower Tuesday as fourth-quarter earnings season begins.
European stocks were moving lower while Asian shares ended Tuesday's trading session mostly to the downside. Japan's Nikkei 225 index declined 0.9% to 10,508.06 as the yen rose against the dollar.
The economic calendar in the U.S. Tuesday includes the ICSC/Goldman Sachs chain-store sales report for the week ended Jan. 5, and Redbook's Retail Sales Index for January.
U.S. stocks on Monday finished lower after a run-up on Friday that saw the S&P 500 rise to a new closing high. The Dow Jones Industrial Average shed 51 points, or 0.38%, to 13,384 on Monday. The S&P 500 fell 5 points, or 0.31%, at 1,462. The Nasdaq lost 3 points, or 0.09%, to 3,099.
AIG's (AIG - Get Report) board is meeting Wednesday to consider whether to join a $25 billion shareholder lawsuit against the government, court records show, The New York Times reported. AIG just completed paying back the U.S. government for a $182 billion bailout.
Yum Brands (YUM - Get Report) warned Monday that KFC sales in China would be slower because of a government review of its poultry.
Samsung Electronics, the world's largest technology company by revenue, said Tuesday it expects record fourth-quarter earnings on strong sales of smartphones and tablets. Samsung, which makes Galaxy smartphones, said fourth-quarter revenue likely rose 18% from a year earlier.
Earnings season kicks off Tuesday with reports from aluminum giant Alcoa (AA - Get Report) and seeds company Monsanto (MON).
Sears (SHLD - Get Report) said late Monday that CEO Louis D'Ambrosio is stepping down for family health reasons; Chairman Edward Lampert will take over the CEO duties.
Alabama beat Notre Dame, 42-14, in the BCS championship Monday night. Alabama claims its second straight national title and third in four years. -- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
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