Stock Market Today: Futures Mixed as Apple Gains, Home Depot Drops

NEW YORK (TheStreet) -- U.S. stock index futures were pointing to a mixed open on Wall Street Tuesday.

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Dow Jones Industrial Average futures were down 13 points, or 16.42 points below fair value, to 17,087. S&P 500 futures were down 1.25 points, or 1.19 points below fair value, to 1,999.25. Nasdaq futures were up 0.8 points, or 1.36 points below fair value, to 4,093.8. The S&P pulled back from record levels Monday after five weeks of gains that pushed the benchmark to its 33rd record close of the year.

Read More: Sept. 9 Premarket Briefing: 10 Things You Should Know

In top company headlines, Apple (AAPL)   shares gained 0.76% to $99.10 in premarket trading, after a tough week for the stock last week. The anticipated release of the newest iPhone is expected at 1 p.m. EDT when the tech giant holds an event at the Flint Center for the Performing Arts, near its headquarters in Cupertino, Calif. Along with a new, larger iPhone and possibly a computerized watch, Apple also could announce Tuesday a mobile payments strategy following several reports the company is working with payments companies Visa (V) , Mastercard (MA) and American Express (AXP) .

Apple has outperformed the S&P 500 by 0.7% over six years based on its performance from past iPhone events to the release date of a new iPhone. But it underperformed by a sharp 7% last year -- the worst performance ever -- according to Brian White, an analyst at Cantor Fitzgerald.

Read More: European Stocks Fall as EU Halts New Russia Sanctions

Apple's stock historically has underperformed relative to the S&P 500 in the one-week, two-week and four-week periods after a new iPhone has been released, said the analyst. This time though, he expects a "new dynamic" with the potential for a new product category -- the iWatch --and a more favorable average selling price with a 5.5-inch iPhone 6.

Home Depot's (HD)  stock was down 0.63% to $90.25 after its confirmation on Monday that its payment systems were hacked in a data breach that could affect millions of shoppers who used credit and debit cards at its more than 2,000 stores in the U.S. and Canada.

McDonald's (MCD) fell 0.56% to $91.98 after reporting that global same-store sales decreased 3.7% in August, its results damaged by the recent food safety scare in China. 

General Mills (GIS) plans to buy Annie's (BNNY) , the organic food company known for its rabbit-shaped mac and cheese, for $820 million. Annie's surged 36.71% to $45.81.

No market-moving U.S. economic reports were expected on Tuesday.

European markets fell Tuesday amid geopolitical jitters after EU governments abruptly halted new sanctions against Russia to assess the latest Ukraine cease-fire.

The SPDR Gold Trust ETF (GLD) was up 0.1% to $120.85.

Read More: Stock Market Today: S&P Pulls Back From Record as Oil Tumbles

--By Andrea Tse in New York

Follow @AndreaTTse

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