U.S. indexes followed European stocks lower on Tuesday, the first sign of the market cooling since the first quarter closed with a bang. We are already hearing some anxiety about Friday’s employment report, which will be released while the U.S. market is closed for Good Friday. The uncertainty may be keeping some people on the sidelines. And data out of Europe still paints a relatively bleak picture, with bond yields still elevated and a recent increase in jobless claims in Spain.
That said, the Fed will release minutes from its meeting this afternoon at 2 p.m., and Ben Bernanke and the gang might just save the day, just as Bernanke did last week with a dovish speech before Congress. If investors continue to believe that a new round of asset purchases is possible, it could give the market a late-day boost.
Dow futures fell 31 points to 13,158; S&P 500 futures fell 2.4 points to 1,410.2.
Netflix (NFLX) fell 2.7% after being downgraded by Barclays. CVR Energy (CVI) rose 5.9% as Carl Icahn said he has acquired enough shares to control the company. Cavium (CAVM) fell 2.7% after projecting disappointing first-quarter financial results. Molson Coors (TAP) was trading flat after agreeing to buy European brewer StarBev.
