US stocks set for a soft open. Salesforce down 17%

The mood in US stock markets is negative for a second day but one stock is responsible for a good portion of the selling. Dow component Salesforce is down 17% after reporting poor guidance, single-handedly shaving 190 points from Dow futures.

S&P 500 futures are down 0.3% or 16 points ahead of the open, which is well off the lows. The turn has been helped by lower Treasury yields in a partial reversal of the decline over the prior two days of declines.

On the upside, there were better-than-expected earnings from Dollar General, Best Buy and Foot
Locker today, along with American Eagle Outfitters late yesterday. That points to resilience from consumers, though none of those companies upped guidance.

This article was written by Adam Button at www.forexlive.com.