U.S. stocks futures edge lower on strong dollar, earnings worries

U.S. stock futures pared some of their earlier losses on Monday as investors weighed weaker-than-expected corporate earning, the results of the Greek election and its impact on the dollar.

Futures for the Dow Jones Industrial Average DJH5, +0.05% were down 35 points, or 0.2%, to 17,533, while those for the S&P 500 SPH5, -0.03% slipped 2.4 points, or 0.1% to 2,041.50. Futures for the Nasdaq 100 index NDH5, +0.26% was flat at 4,267.

U.S. shares could extend their retreat from a mostly slumping session Friday, when the Dow industrials DJIA, -0.51% ended 0.8% weaker. At the same time, the S&P 500 SPX, -1.02% fell 0.5%, but the Nasdaq Composite COMP, -0.43% edged up 0.2%.

Earlier, stock futures dragged lower by news that Greek opposition party Syriza had won the general election, raising the possibility that Greece could lose its international assistance or even leave the eurozone. But investors now seem to have turned their attention to the dollar.

“The U.S. is simply trading weak on a disappointing earnings season and concerns surrounding the fallout of the strong dollar. Greece seems to be a non-issue, with Europe moving ahead again,” said Wouter Sturkenboom, senior investment strategist at Russell Investments in London.

He said the worries around the strength of the dollar focus firstly on the impact on corporate earnings. A second, though more distant, concern is its impact on U.S. exports.