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) - Get Capital One Financial Corporation Report 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) - Get Apple Inc. Report 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.
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