(By Balachander) U.S. stock index futures pointed to a lower opening on the Wall Street, weighed by downbeat earnings guidance from economic bellwether FedEx and lack of clarity on addressing the eurozone debt crisis.
Mini Dow Industrial Average futures shed 18 points to 13,452. The Nasdaq futures dipped 2.25 points to 2,844. Standard and Poor's 500 futures edged 1.70 points lower to 1,452.30.
Euro area finance ministers remained divided over the European Commission's proposal on the banking union and also failed to agree over terms of bailout requests.
On Monday, U.S. stocks closed in red amid worries over factory activity in New York state and euro zone's debt woes. A New York Federal Reserve's empire state manufacturing survey that showed the headline index hit a three-year low.
On the domestic data front, a data showed U.S. current-account deficit narrowed more than expected in the second quarter. The Current Account index - which measures the difference in value between exported and imported goods, services and interest payments - dropped 12 percent to $117.4 billion from a revised $133.6 billion in the first quarter.
Other U.S. data to be released over the week include: housing starts and building permits, existing home sales, initial jobless claims, manufacturing PMI, Philadelphia Federal Reserve Manufacturing Index and Conference Board's leading economic indicators index.
Hot Stocks Of The Day: FDX, AMD, HNI, DOLE, ANR
FedEx Corp. (NYSE:FDX) retreated in 2.16 percent in premarket after the world's largest parcel-delivery company reduced its 2013 earnings forecast and guided second-quarter below consensus amid weak global economic conditions. The economic bellwether posted lower earnings for the first quarter, citing constrained revenue growth at its FedEx Express segment.
Advanced Micro Devices Inc. (NYSE:AMD) tumbled 8.98 percent in premarket after the semiconductor maker said Thomas Seifert has decided to resign as the company's finance chief to pursue other opportunities.
HNI Corp. (NYSE:HNI) plunged 12.02 percent in premarket after the Muscatine, Iowa-based company lowered its earnings and revenue guidance for the third quarter, citing softer-than-expected demand in its office furniture segment.
Dole Food Co. (NYSE:DOLE) advanced 5.47 percent in premarket after the supplier of fresh fruit and vegetables agreed to sell its food packaging and Asia fresh produce businesses to Itochu Corp. for $1.69 billion.
Alpha Natural Resources Inc. (NYSE:ANR) plans to eliminate about 9 percent of its workforce as part of its move to reshape its portfolio of operations and focus on metallurgical coal business. Shares inched higher in premarket.
European markets traded lower as leaders from the region failed to agree on banking union proposal, with Germany's DAX down 0.78 percent to trade at 7,345.62. France's CAC40 fell 0.74 percent to trade at 3,527.26. U.K.'s FTSE 100 declined 0.69 percent to trade at 5,852.98.
Asian markets closed in red, tracking global cues, with China's Shanghai Stock Exchange Composite Index down 0.91 percent to finish at 2,059.54. Japan's Nikkei 225 dropped 0.39 percent to end at 9,123.77. Hong Kong's Hang Seng Index dipped 0.27 percent to close at 20,601.93. India's BSE Sensex closed at 18,496.01, down 0.25 percent.
Commodity & Currency Scan:
Ahead of the opening bell, crude oil futures retreated 0.85 percent to $95.80 per barrel. Gold futures slipped 0.50 percent to $1,761.7 per ounce.
In the currency market, the euro shed 0.42 percent against the U.S. dollar to 1.3062 while the British pound edged 0.02 percent lower to 1.6247. The dollar shed 0.09 percent against the Japanese yen to 78.6400.