Dow Futures 60 Pts Lower; Lowe’s, Target Quarterly Results Impress By Investing.com – Investing.com

Dow Futures 60 Pts Lower; Lowe’s, Target Quarterly Results Impress By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening largely lower Wednesday, continuing the weakness of the previous session with the focus on more earnings from the retail sector and the minutes of the last Federal Reserve meeting.

At 7 AM ET (1100 GMT), the contract was down 60 points, or 0.2%, traded marginally lower, while climbed 20 points, or 0.1%.

The major indices closed sharply lower Tuesday, with the blue-chip dropping over 280 points, or 0.8%, its first down day in five. The broad-based also fell 0.7%, its worst day since July 19, while the tech-heavy dropped 0.9%.

Weighing heavily on the market was the sharp drop in July , which fell 1.1% compared with a revised 0.7% gain in June. Weaker quarterly results from the home improvement chain Home Depot (NYSE:) didn’t help, although better-than-expected numbers from retailing giant Walmart (NYSE:) provided some solace.

Retail earnings week continues on Wednesday, with Lowe’s (NYSE:), a rival to Home Depot in the home improvement retail market, forecasting full-year sales above estimates after its same-store sales fell 1.6% in the second quarter, compared with expectations of a 2.2% drop.