WASHINGTON (dpa-AFX) - Following the mixed performance seen in the previous
session, stocks may show a lack of direction in early trading on Tuesday. The
major index futures have fluctuated over the course of the morning and are
currently pointing to a roughly flat open for the markets.

Traders may take a step back to assess the recent strength in the markets, which
has seen the major averages climb to new record highs.

Renewed confidence the Federal Reserve will lower interest rates in the coming
months has contributed to the advance, but recent comments from some Fed
officials have once again created some uncertainty.

While the likelihood rates will be lower by September remains high, the chances
have fallen to 75.3 percent from close to 90 percent last week, according to CME
Group's FedWatch Tool.

Another quiet day on the U.S. economic front may also keep some traders on the
sidelines ahead of the release of the minutes of the Fed's latest monetary
policy meeting on Wednesday.

The minutes of the April 30-May 1 meeting may shed additional light on Fed
officials' thinking with regard to the outlook for rates.

Among individual stocks, shares of Palo Alto Networks (PANW) are moving sharply
lower in pre-market trading after the cybersecurity company forecast fiscal
fourth quarter revenues and billings toward the low end of analyst estimates.

Exercise equipment and media company Peloton Interactive (PTON) may also came
under pressure after announcing a global refinancing that includes an offering
of $275.0 million worth of convertible senior notes due 2029.

Meanwhile, shares of Macy's (M) are likely to see initial strength after the
department store operator reported better than expected fiscal fourth quarter
earnings and raised its full-year earnings guidance.

Home improvement retailer Lowe's (LOW) may also move to the upside after
reporting fiscal first quarter results that exceeded analyst estimates on both
the top and bottom lines.

After an early advance, the major U.S. stock indexes moved in opposite
directions over the course of the trading session on Monday.

The tech-heavy Nasdaq added to last week's strong gains, reaching a new record
closing high, while the Dow gave back ground after closing above 40,000 for the
first time last Friday.

The Nasdaq ended the day up 108.91 points or 0.7 percent at 16,794.87. The S&P
500 also crept up 4.86 points or 0.1 percent to 5,308.13, but the Dow fell
196.82 points or 0.5 percent at 39,806.77.

In overseas trading, stock markets across the Asia-Pacific region moved mostly
lower during trading on Tuesday. Japan's Nikkei 225 Index and China's Shanghai
Composite Index dipped by 0.3 percent and 0.3 percent, respectively, while Hong
Kong's Hang Seng Index dove by 2.1 percent.

The major European markets have also moved to the downside on the day. While the
French CAC 40 Index has slumped by 1.0 percent, the German DAX Index is down by
0.6 percent and the U.K.'s FTSE 100 Index is down by 0.4 percent.

In commodities trading, crude oil futures are tumbling $1.66 to $78.14 a barrel
after slipping $0.26 to $79.80 a barrel on Monday. Meanwhile, after jumping
$21.10 to $2,438.50 an ounce in the previous session, gold futures are falling
$7.60 to $2,430.90 an ounce.

On the currency front, the U.S. dollar is trading at 156.27 yen compared to the
156.26 yen it fetched at the close of New York trading on Monday. Against the
euro, the dollar is valued at $1.0856 compared to yesterday's $1.0857.



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