Stock Futures Lower Amid Concerns Over Fed Stimulus Plans

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NEW YORK (TheStreet) -- Stock futures were pointing to a lower open for markets on Tuesday amid concerns the Federal Reserve could scale back its stimulus program as early as this month. 
 
Futures for the Dow Jones Industrial Average were shedding 56.0 to 15,942.0 while S&P 500 futures were 5.0 lower to 1,794.75. Nasdaq futures were off 4.50 to 3,478.5.
 
Markets closed lower Monday, with disappointing sales for the first holiday weekend. Other investors suggested strong manufacturing data had lifted the chance the Fed will cut bond purchases sooner rather than later, depressing equity markets.
 
The economic calendar is light Tuesday, with U.S. motor vehicle sales the main agenda item. Australian GDP is due Tuesday evening with expectations for 0.6% growth in the third quarter.
 
Shares expected to see price action as a result of auto-vehicle sales include Ford and General Motors . Krispy Kreme shares are likely to fall sharply after the company posted a poor outlook with its results on Monday. By contrast, Shoe Carnival and Ascena Retail Group beat expectations for the first quarter
 
In overseas markets, Europe was mostly lower as producer prices in the region fell sharply. Yet the pound was higher on strong British construction data, which rose at the fastest pace in more than six years. Chinese shares continued their Monday selloff. 
 
Germany's DAX was falling 1.08% while the FTSE was off 0.83%. The Hang Seng closed 0.53% lower while the Nikkei was up 0.60%.