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Stock Market Today: Stock Futures Flat, Market Grapples With Jitters Overseas

NEW YORK (TheStreet) -- U.S. stock futures were hovering near the flat line less than an hour before the opening bell after stocks finished well off their intraday highs on Monday.

S&P 500 (SPY) futures were up 2.25 points, or 2.18 points above fair value, to 1,934.75. Dow Jones Industrial Average (DIA) futures were up 8 points, or 2.02 points above fair value, to 16,523. Nasdaq (QQQ) futures were up 3.5 points, or 1.84 points above fair value, to 3,908.5.

Investor caution deepened as European stocks sustained losses on renewed uncertainty in the Ukraine and as the French current account deficit gaped wider. The latest economic confidence index from Germany’s prestigious ZEW economic research center dropped to well below the consensus.

Furthermore, the possibility of early U.S. interest rate hikes remained a concern amid the steady flow of better-than-expected economic data.

Must Read: August 12 Premarket Briefing: 10 Things You Should Know

The Labor Department's Job Openings and Labor Turnover Survey for June will be released at 10 a.m. Ahead of the open, the July NFIB Small Business Optimism Index reported an uptick of 0.7 points to 95.7.

In company headlines, Amazon (AMZN - Get Report) is doubling down on its attempt to squeeze Walt Disney (DIS - Get Report) for price concessions, blocking preorders for Captain America: The Winter Soldier and other DVDs. Disney was flat at $87.53 in premarket trading while Amazon was slightly higher at $319.24.

Nuance Communications (NUAN - Get Report), maker of speech-recognition software like Dragon NaturallySpeaking, missed analyst expectations on its third-quarter revenue but met profit-per-share estimates as reported yesterday. Its new forecast is lower than expected. Nuance was dropping 7.96% to $16.66. Caesars Entertainment (CZR - Get Report) the casino operator, lost money on weak business in Atlantic City, despite a strong quarter in Las Vegas. The company has not booked a profit since 2009.

 

 

--By Andrea Tse in New York

Follow @AndreaTTse

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SYM TRADE IT LAST %CHG
AMZN $531.90 -0.58%
CZR $5.34 -1.11%
DIS $121.69 0.47%
NUAN $18.07 -0.22%
AAPL $114.64 -3.21%

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

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