Stock futures were slightly lower on Tuesday as crude oil faltered after a massive rally a day earlier following weaker trade data from China.
S&P 500 futures were down 0.48%, Dow Jones Industrial Average futures fell 0.39%, and Nasdaq futures slid 0.4%.
Crude oil stalled after reaching a two-month high set a day earlier on further signs of weakening demand out of China. The world's second-largest economy reported a 25.4% drop in exports in February on weaker global demand and a week-long business shutdown during the Lunar New Year holiday. West Texas Intermediate crude oil was flat at $37.91 a barrel on Tuesday morning.
Wall Street closed out Monday mixed with the S&P 500 and Dow extending their gains into a fifth session, but only by a hair. The Dow rose thanks to a rally in the energy and basic materials sectors, and the S&P 500 gained just 0.09%. The Nasdaq snapped its streak, pulling 0.19% lower due to pressure from high-momentum tech names.
Shake Shack (SHAK - Get Report) fell nearly 10% in premarket trading following a softer-than-expected outlook for same-store sales growth this year. The burger chain expects same-store sales to grow between 2.5% and 3% this year, below estimates of 3.1% growth. The company did manage to beat fourth-quarter estimates with same-store sales surging 11%, above forecasts of 7.3%.
Urban Outfitters (URBN - Get Report) climbed more than 9% after showing improved margins during its holiday quarter. The apparel retailer earned 61 cents a share in its holiday quarter, a penny higher than a year earlier. Comparable-sales declined 2% over the quarter, slightly more than a 1.9% decline.
Dick's Sporting Goods (DKS - Get Report) tumbled 5% after falling short of profit forecasts in its recent quarter. The sports goods retailer earned $1.13 a share, 3 cents higher than a year earlier, but below forecasts of $1.15. Sales climbed 3.7%, coming in above estimates.