Premarket futures were hinting at a lower open for stocks on Wall Street Tuesday, as financial firms altered their business practices to accommodate strains on both the consumer and the credit markets.

Futures for the

S&P 500

were down 8.3 points at 913 and were 4.6 points below fair value.

Nasdaq

futures were lower by 17 points at 1240 and were 12 short of fair value.

On Monday, stocks surrendered early gains to close on the downside after enthusiasm for an economic stimulus package from China waned and concerns about the U.S. economy took hold.

Financial firms were adjusting their businesses to account for the credit crunch and economic slowdown.

Citigroup

(C) - Get Report

announced that it would adjust terms for mortgages to avoid foreclosure proceedings on as much as $20 billion in at-risk mortgages. Last Friday,

JPMorgan Chase

(JPM) - Get Report

announced a similar mortgage-refinance program, covering $110 billion in loans.

Meanwhile, credit card company

American Express

(AXP) - Get Report

got the go-ahead from the

Federal Reserve

to turn itself into a bank holding company. Such a move would allow American Express to build a deposit base and secure Fed funding.

Goldman Sachs

(GS) - Get Report

and

Morgan Stanley

(MS) - Get Report

had earlier this year successfully petitioned the Fed for bank holding company status.

In the energy patch,

Chesapeake Energy

(CHK) - Get Report

and

StatoilHydro

(STO)

announced a joint venture to seek additional natural gas resources.

As for earnings, following Monday's close, coffee purveyor

Starbucks

(SBUX) - Get Report

reported a decline in profit and fell short of analysts' estimates. The company also said it would not provide earnings guidance for the upcoming year.

Telecom firm

Vodafone

(VOD) - Get Report

, meanwhile, announced falling profit for the first half of its fiscal year and reduced revenue guidance.

Shifting to commodities, crude oil was losing $1.67 to $60.74 a barrel. Gold was dropping $7.90 to $738.60.

The U.S. bond market is closed Tuesday for Veterans Day. The dollar was rising vs. the euro and pound but trading lower against the yen.

Abroad, European exchanges, including the FTSE in London and the DAX in Frankfurt, were mostly edging downward. In Asia, Japan's Nikkei and Hong Kong's Hang Seng both closed with losses.

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