S&P and Nasdaq futures point to lower open after Monday's declines, losses overseas.
November 11, 2003: 5:39 AM EST
NEW YORK (CNN/Money) - Stocks looked set to open lower Tuesday following Monday's declines and substantial drops in markets overseas.
S&P and Nasdaq futures pointed to a flat to lower start for Wall Street.
Stocks ended lower Monday and investors will be watching earnings news as they head back to work Tuesday. The Nasdaq composite took the biggest hit of the major indexes, dropping 1.5 percent.
The Dow Jones industrial average slipped 0.5 percent, and the S&P 500 lost 0.6 percent. (For more on Monday's markets, click on the chart).
Overseas, stocks fell sharply in Japan, with the Nikkei down 2.8 percent, hurt by weakness in tech, auto and banking shares. The declines in Tokyo pulled the rest of Asia lower, and stocks in Europe fell for the second straight day.
The Treasury market is closed in the United States for the Veterans Day holiday, as are most banks, and overseas Treasury trading was very light.
The dollar edged lower against the euro and the Japanese yen.
Two retailers are set to report results Tuesday, J.C. Penney Co., and May Department Stores Co., and Cablevision Systems is also due.
Analysts surveyed by Reuters Research expect cable TV operator Cablevision Systems (CVC: Research, Estimates) to post a loss of 36 cents per share for the third quarter.
J.C. Penney (JCP: Research, Estimates) is expected to earn 26 cents per share and May Department Stores (MAY: Research, Estimates) 11 cents per share for their third fiscal quarters.
EchoStar (DISH: Research, Estimates) reported a profit versus a year-ago loss but the results missed Wall Street forecasts and subscriber growth slowed, Reuters reported.
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