NEW YORK (
) -- Stock futures pointed to a weaker open Tuesday despite a better-than-expected upward revision to third-quarter gross domestic product as investors reacted to news that North Korea shot artillery fire onto South Korea's territory.
Futures for the
Dow Jones Industrial Average
were down by 97 points, or 88 points below fair value, at 11,068. Futures for the
were 13 points lower, or 11 points below fair value, at 1185, and
futures were down by 19 points, or 15 points below fair value.
Nasdaq ended Monday's session in positive territory while financials weighed heavily on other major U.S. indices amid concerns about Ireland's debt situation.
Tuesday, killing at least two marines and wounding others, according to news reports.
Europe, investors continued to worry that Portugal and Spain would be the next nations to seek international aid. The FTSE in London was down by 1% and the DAX in Frankfurt was off by 0.8%.
Hong Kong's Hang Seng fell 2.7% while Japan's Nikkei added 0.9%.
The U.S. economy grew 2.5% in the third quarter, according to the Department of Commerce's second estimate. The increase improved from the Department's preliminary read for 2% growth exceeded expectations for an uptick of 2.4%, according to Briefing.com. In the second quarter, GDP grew 1.7%.
The National Association of Realtors will report on October existing-home sales at 10 a.m. EST. The market is anticipating a decline to 4.42 million from 4.53 million, previously.
At 2 p.m., the Federal Open Market Committee will release the minutes from its November meeting. According to a recent note by Deutsche Bank Chief U.S. Economist Joseph LaVorgna, the minutes "will garner added attention because they will contain the Fed's updated economic forecasts and more detailed rationale for policymakers' decision to further expand the balance sheet."
saw its stock soar 21% to $45.55 ahead of Tuesday's opening bell on reports that the apparel company is close to being bought out by private-equity firms
Leonard Green & Partners
for $43.50 a share, or roughly $2.8 billion.
were up by 2% to $44.10 in early trading the morning after it beat expectations with adjusted fourth-quarter earnings of $1.33 a share on sales of $33.3 billion.
said first-quarter net earnings fell 8% to $279 million, or 82 cents a share, and sales dropped to $2.172 billion. Analysts had been expecting a profit of 83 cents a share on sales of $2.2 billion.
In commodity markets, the January crude oil contract was off by $1.13 to trade at $80.61 a barrel. The December gold contract was up by $3.20 to $1,361 an ounce.
The dollar traded higher against a basket of currencies with the dollar index up by 0.6%, and the benchmark 10-year Treasury note strengthened 15/32, diluting the yield to 2.751%.
--Written by Melinda Peer in New York
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.