U.S. futures contracts indicate that investors are still lukewarm on the market following the long Christmas weekend.
Nasdaq futures were experiencing the worst declines, falling 0.42% about 30 minutes ahead of the market open. Dow and S&P 500 futures were down 0.15% and 0.01%, respectively, after markets fell slightly in the Friday session.
Overseas, the Shanghai Composite and Hang Seng both had strong trading sessions, rising 0.78% and 0.72% respectively. The Nikkei in Japan fell 0.2%.
In Europe, markets were closed for the holidays.
Bitcoin continued its wild ride Tuesday, rising nearly 10% to $15,267.03 before U.S. stock markets opened for trading. Over the last 24 hours, the digital currency reached a low near $13,500 per unit. On Friday, the world's most popular cryptocurrency lost nearly 30% of its value, falling as low as $11,159 after reaching an all-time high of $19,666 last week.
Not every banking institution will benefit from the GOP tax bill that was just signed into law. Capital One Financial Corp (COF) shares were down 1.5% premarket after the company announced that it was cutting its stock buyback program due to a $1.9 billion charge related to the new tax bill. The company expects to maintain its $0.40 per share quarterly dividend.
Action Alerts PLUS holding Apple Inc. (AAPL) was falling 2.5% premarket following a report from Taiwan's Economic Daily suggesting that iPhone X demand could be softer than expected in the first quarter. The newspaper predicted that Apple will cut its iPhone X sales forecast to 30 million units in the quarter, down from 50 million. Apple has not publicly disclosed its internal sales targets for the device.
Investors are expecting that Hasbro Inc. (HAS) had a very merry Christmas, sending the toymaker up 0.5% premarket on no new news.
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