CF:CC - Stocks Static Markets Take Breather
Stock futures were near flat Tuesday as Wall Street digested a recent rally that led the S&P 500 to its highest level in nine months.
Futures for the Dow Jones Industrials fell 31 points, or 0.1%, to 33,588.
Futures for the S&P 500 ditched 3.75 points, or 0.1%, to 4,277.25.
Futures for the NASDAQ Composite slipped 17.25 points, or 0.1%, to 14,571.50.
Apple contributed to the leg down, as the iPhone maker briefly touched all-time highs earlier in the session only to end about 0.8% lower. The Big Tech company — which swung between a 2.2% gain and a 1.6% loss Monday — debuted its highly anticipated virtual reality headset as well as new software at its annual Worldwide Developer Conference on Monday. Shares were down 0.4% after hours.
Apple's conference also weighed on other tech names, with Intel dropping more than 4% after Apple unveiled a new chip.
Elsewhere, bank stocks slid following news that regulators are contemplating increasing capital requirements for large banks. Goldman Sachs and Bank of America each lost about 0.6% on Monday, while Morgan Stanley slipped around 0.7% and JPMorgan shares slid nearly 1%. The SPDR S&P Bank ETF dropped about 2.2%.
In Japan, the Nikkei 225 gained 0.9% Tuesday, while in Hong Kong, the Hang Seng index dipped 0.1%.
Oil prices let go of $1.53 to $70.62 U.S. a barrel.
Gold prices rallied $7.70 to $1,982.10. U.S. an ounce.