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US futures turn negative as post-debate rally fades

U.S. futures traded near the flatline on Tuesday after the first debate between U.S. presidential candidates, Hillary Clinton and Donald Trump.

Clinton appeared to have gained an edge on her Republican opponent in the debate, which saw Dow futures briefly add more than 100 points before paring gains.

"The press verdict on the first U.S. presidential debate is that Hillary Clinton 'won', but Donald Trump didn't lose badly enough to really reduce the uncertainty," Kit Juckes, a strategist at Societe Generale, said in a note on Tuesday.

Dow futures rose more than 100 points overnight following the debate before dipping into negative territory Tuesday morning. S&P and Nasdaq futures soon followed the Dow lower.


Republican presidential nominee Donald Trump (L) speaks as Democratic presidential nominee Hillary Clinton listens during the Presidential Debate at Hofstra University on September 26, 2016 in Hempstead, New York.
Photo by Pool/Getty Images
Republican presidential nominee Donald Trump (L) speaks as Democratic presidential nominee Hillary Clinton listens during the Presidential Debate at Hofstra University on September 26, 2016 in Hempstead, New York.

Economic data due from the U.S. on Tuesday include the Case-Shiller home price index and the Conference Board's consumer confidence report for September.

Companies reporting earnings on Tuesday include IHS Markit, which reported before the bell, and Nike after the close of trade.

Crude oil futures declined on Tuesday after rallying more than 3 percent on Monday. The volatility comes as major oil-producing countries meet in Algiers amid rumors of a long-awaited OPEC deal to freeze crude production.

With that in mind, energy stocks will be worth watching on Tuesday.

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