Investing.com - U.S. stock futures pointed to a slightly higher open on Tuesday as investors awaited a raft of earnings reports, while shares of Google parent Alphabet were lower in premarket trade after it released its financial results late Monday.
The blue-chip Dow futures was up 24 points, or 0.11% by 06.40 a.m. ET (10.40 a.m. GMT), the S&P 500 futures added on 2.5 points or 0.11%, while the tech-heavy Nasdaq 100 futures were little changed.
U.S. stock ended mixed on Monday, with the Dow Jones Industrial Average and S&P 500 posting their third straight session of declines while the Nasdaq Composite closed at a record high.
Shares in Alphabet Inc (NASDAQ:GOOGL) were down around 2.6% in premarket trade after it reported a steep drop in second quarter profit on Monday following a $2.74 billion fine from European antitrust regulators. The company also reported record traffic acquisition costs.
McDonald’s (NYSE:MCD), General Motors (NYSE:GM) and Caterpillar (NYSE:CAT) were among the companies due to report earnings ahead of the opening bell on Tuesday.
In currency markets, the dollar was nursing losses near 13-month lows as investors awaited the outcome of this week’s Federal Reserve meeting and monitored political developments in Washington.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 93.8, not far from Monday’s low of 93.65.
Investors remained focused on the investigation into alleged links between U.S. President Donald Trump’s administration and Russia in last year’s election.
On Monday, Jared Kushner, Trump’s son-in-law and a senior White House adviser, told Senate investigators he had met with Russian officials four times last year but said he did not collude with Moscow.
Investors fear the persistent political turmoil will derail the Trump administration’s pro-growth economic agenda of tax cuts and infrastructure spending, which helped propel the dollar to 14-year peaks after the November election.
Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness.
The Fed is to hold its next meeting on Wednesday and is widely expected to hold policy steady, but officials could hint at its plans to start normalizing its balance sheet.