Stock futures lower as Apple, chipmakers weigh

Stock futures lower as Apple, chipmakers weigh

FILE PHOTO: Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., December 1, 2017. REUTERS/Brendan McDermid
REUTERS: U.S. stock futures were slightly lower on Tuesday in light trading volumes after Christmas holiday as losses in Apple and a bunch of chipmakers weighed.Apple's shares fell more than US$4 to US$170.88 in premarket trading after Taiwan's Economic Daily reported that demand for iPhone X could come in below expectations in the first quarter.Shares of iPhone maker's suppliers - Broadcom , Skyworks Solutions and Qorvo - fell between 1 percent and 2 percent.Chipmakers Micron and Advanced Micro Devices were also down about 1.5 percent each.Sucampo Pharma jumped about 5 percent after Mallinckrodt said it would acquire the drugmaker for US$1.2 billion, to gain access to its constipation drug Amitiza.At 6:51 a.m. ET, Dow e-minis were down 35 points, or 0.14 percent, with 6,437 contracts changing hands.
S&P 500 e-minis were down 0.5 points, or 0.02 percent, with 17,734 contracts traded.Nasdaq 100 e-minis were down 15.75 points, or 0.24 percent, on volume of 7,000 contracts.The indexes ended with weekly gains on Friday after a long-promised Republican bill to cut corporate tax rates was ratified and a short-term spending bill that averted a government shutdown was approved.Bitcoin traded up 7.7 percent at US$14,954, recovering from last week's selloff which saw the cryptocurrency fall below US$12,000.
Shares of Riot Blockchain , Longfin Corp and Overstock.com rose between 3 percent and 12 percent.A report due at 10:00 a.m. ET is likely to show consumer confidence index fell to 128.1 in December from 129.5 in the previous month.(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva)
Source: Reuters
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