U.S. stock index futures retreated on Tuesday as lawmakers geared up to debate a coronavirus relief deal to limit the economic damage from the pandemic, with investors also keeping an eye on quarterly earnings reports from Pfizer and McDonald's.
Senate Republicans announced on Monday a US$1 trillion aid package hammered out with the White House — four days before millions of Americans lose unemployment benefits — but the proposal sparked immediate opposition from both Democrats and Republicans.Hopes of more government stimulus helped Wall Street's main indexes close higher on Monday, with traders also tracking corporate America's forecasts for a business recovery and signs of progress in developing a COVID-19 vaccine.
Pfizer rose 2.1per cent in premarket trading ahead of it second-quarter earnings report due later in the day.