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Nov 20, 2018

Before the Bell: Dow set for a triple-digit loss at the open as tech stocks hit bear territory


Spriha Srivastava


U.S. stock index futures pointed to a lower open on Tuesday morning as tremors in tech stocks keep investors nervous.
At around 4:10 a.m. ET, Dow futures were down 150 points, pointing to triple-digit losses of 131.44 at the open. S&P 500 and Nasdaq futures pointed to a negative open too.
Stocks dropped sharply on Monday, with the Dow plunging 400 points, as the biggest and most popular technology stocks plunged. The popular "FAANG" trade made up of Facebook, Amazon, Apple, Netflix and Alphabet is now in a bear market with each member down more than 20 percent from their one-year highs.
Tech aside, investors will be keeping an eye on earnings and data on Tuesday. On the earnings front, Lowe's, Medtronic, Best Buy, Campbell Soup, Hormell Foods, Kohl's Target and TJX Cos. will are set to report before the bell. Meanwhile. Autodesk, Footlocker and BJ's Wholesale are expected to report after the bell.
At 8:30 a.m. ET, investors will be watching for U.S. Housing Starts numbers, followed by Philly Fed non-manufacturing data at the same time.
Source: CNBC

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