Wall Street's push for another record stock session could hit a snag Tuesday, as the dollar came under pressure and investors waited for consumer price data.
Dow Jones Industrial Average futures fell 30 points to 18,552, while S&P 500 futures shed 3.4 points to 2,182.50. Nasdaq-100 futures fell 6.5 points to 4,816.25.
Fueled largely by a rally in oil prices that lifted commodity-related shares, the Dow Jones Industrial Average , the S&P 500 index , and the Nasdaq Composite Index all closed at record highs on Monday, for the second time since 1999.
But that positive momentum was lost in Asia, where the Nikkei 225 index dropped 1.6%, and in Europe, where stocks were also struggling. Japanese stocks stumbled under the weight of a strong yen, which hovered right at Yen100 against the dollar, a level not seen since shortly after the U.K.'s Brexit vote.
"What this does is strengthen the commodity complex on a day that you might have otherwise seen some profit taking, or even technical resistance for the oil space," said Stephen Guilfoyle, chief market economist at Stuart Frankel & Co. in a note to investors.