Dow set for triple-digit losses at the open amid rising global tensions

Business


U.S. stock futures pointed to a negative open Tuesday morning, with global markets on edge amid geopolitical tensions surrounding Saudi Arabia.

Dow futures were off by 258 points as of 4:20 a.m. ET, indicating a negative open by 269 points. Futures on the S&P 500 and the Nasdaq also fell.

Investor focus is largely attuned to developments in Saudi Arabia, after the country confirmed Jamal Khashoggi, a journalist and critic of the Saudi regime, was killed in the country’s consulate in Istanbul, Turkey.

Tuesday is also a big day for corporate earnings, with McDonald’s, 3M, Caterpillar and a number of other firms set to report before the bell, and Juniper Networks, Equity Residential, Capital One and others due to post their financials after the trading session.

Meanwhile, Minneapolis Federal Reserve President Neel Kashkari, Atlanta Fed President Raphael Bostic, Chicago Fed President Charles Evans and Kansas City Fed President Esther George will speak throughout the day. In terms of data, the Richmond Fed is expected to release manufacturing index data at 10 a.m. ET.



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