NEW YORK (Reuters) – Stock index futures dipped on Tuesday, the day after the market hit a five-and-a-half month high, while the dollar steadied.
Corporate earnings will be in focus as DuPont and Co (DD.N) posted higher-than-expected profit as sales rose across all business units, while Ford Motor Co (F.N) posted a profit that exceeded estimates and said it expected to eliminate its net debt by year-end.
Late Monday, Texas Instruments Inc (TXN.N) warned that fourth-quarter revenue will be hurt by slowing demand, but quarterly results topped expectations.
Bristol-Myers Squibb Co (BMY.N) is also due to report later Tuesday.
Equities and the dollar have formed an inverse relationship exacerbated by expectations the U.S. Federal Reserve will embark on another round of economic stimulus. The greenback steadied Tuesday, with investors wary of pushing it lower. The dollar index (.DXY) was up 0.2 percent.
Stocks rose to a five-and-a-half month high on Monday as a falling dollar, partly driven by expectations of further Fed stimulus, prompted investors to buy riskier assets payday loans for bad credit.
S&P 500 futures dipped 1.6 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures slipped 25 points, and Nasdaq 100 futures gave up 4.50 points.
Economic data on tap includes October consumer confidence and the S&P/Case-Shiller Home Price Index for August. Consumer confidence is expected to rise to 49.2 from 48.5 the month before, while the home price index is forecast to fall 0.2 percent, compared with a 0.1 percent drop in July.
In Europe, UBS AG (UBSN.VX)(UBS.N) reported an unexpected investment banking loss, sending its U.S.-listed shares down 4 percent to $17.20 in premarket trading.
(Reporting by Leah Schnurr; editing by Jeffrey Benkoe)
Stock futures dip; home price, confidence data eyed
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