Investing.com - U.S. futures pointed to a lower open on Wall Street on Tuesday as disappointing earnings weighed and investors awaited data on U.S. retail sales and appearances by Federal Reserve officials.
By 06:48 AM ET (10:48 AM GMT) the tech-heavy Nasdaq 100 futures slipped 11.5 points, pointing to a loss of 0.17% at the open. The blue-chip Dow futures were down 45 points or 0.18%, while S&P 500 futures edged down 3.25 points, or 0.11%.
The moves pre-market came after Wall Street ended slightly higher on Monday after a choppy session, with the Dow notching up its eight straight session of gains.
Shares in Home Depot (NYSE:HD) were down around 2.2% pre-market after it said it has had a slower-than-expected start to the spring selling season.
The home improvement retailer reported first quarter earnings of $2.08 per share on revenue of $24.9 billion. Analysts had expected ESP of $2.08 on revenue of $25.2 billion.
Tesla (NASDAQ:TSLA) shares were down 2.39% ahead of the open after Morgan Stanley downgraded the stock.
Investors are awaiting retail sales figures for April, due at 08:30 AM ET and a May report on the Empire State Manufacturing Index is due at the same time.
Updates on business inventories and a housing market index are due at 10:00 AM ET.
On the central bank front, incoming New York Fed President John Williams is due to speak at the Economic Club of Minnesota's May Luncheon at 12:45 PM ET.
The nominee for Fed vice chairman, Richard Clarida, as well as Michelle Bowman, who was nominated to be a Fed governor, will both face Congress on Tuesday for their confirmation hearings.
Investors remained cautious amid concerns over higher U.S. Treasury yields, trade tensions and geopolitical risks.
The yield on 10-year U.S. Treasury notes ticked up to a three-week high of 3.025% earlier in the day. A rise above the high of 3.035% reached on April 25 would take it to its highest since early 2014.
Higher interest rates can spell weakness for stocks.