U.S. futures steady ahead of data; Dow Jones down 0.08%

Investing.com - U.S. stock futures pointed to a steady open on Tuesday, as investors awaited the release of U.S. economic reports later in the day, amid growing expectations for the Federal Reserve to begin tapering its stimulus program in the near future.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.08% fall, S&P 500 futures signaled a 0.06% slip, while the Nasdaq 100 futures indicated a 0.04% dip.

Markets were jittery after last week’s minutes of the Fed’s October meeting said the bank could start tapering its USD85 billion-a-month asset purchase program in the “coming months” if the economy continues to improve as expected.

U.S. stocks strengthened on Monday after weekend talks among the U.S., Russia, China, Britain, Germany, France and Iran ended in agreement on a "first step deal” that is meant to limit advancements in Iran's nuclear program in exchange for easing economic sanctions against Tehran.

Financial stocks were expected to be active, after Citigroup failed to persuade a U.S. judge that Abu Dhabi Investment Authority was barred under an agreement with the bank from seeking arbitration over USD2 billion in claims the emirate’s entity already pursued and lost.

The tech sector was also likely to be in focus, after China’s National Development and Reform Commission began an investigation on Qualcomm related to an anti-monopoly law.

Separately, the Information Technology & Innovation Foundation announced that international anger over the National Security Agency’s Internet surveillance could cost U.S. tech companies as much as USD35 billion in lost revenue through 2016 due to doubts over the security of information on their systems.

Elsewhere, Wal-Mart Stores, down 0.04% in after-hour trade, on Monday named Doug McMillon as its new chief executive officer, replacing Mike Duke.

Other stocks expected to be in focus included Eaton Vance, Hormel Foods, Tiffany and Barnes & Noble, all scheduled to report third-quarter earnings later in the day.

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.12%, France’s CAC 40 fell 0.20%, Germany's DAX inched down 0.01%, while Britain's FTSE 100 declined 0.39%.

During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.01%, while Japan’s Nikkei 225 Index slid 0.67%.

Later in the day, the U.S. was to produce data on building permits, as well as private sector data on consumer confidence and house price inflation.