NEW YORK (CBS.MW) -- A sullen tone is emerging in the tech sector for a third straight session Wednesday, with chip issues taking their lumps in pre-open dealings as a midquarter update from equipment maker Novellus Systems did not prove reassuring to investors.
And an SEC probe into oil service firm Halliburton (NYSE: HAL - news) could dent investor confidence in the broader market.
The futures markets pointed to losses in the tech sector at the start of trading, though the downside wasn't too deep.
June S&P 500 futures declined 1.60 points, or 0.1 percent, but were trading around 0.30 point above fair value, according to the figures provided by HL Camp & Co. Nasdaq futures, meanwhile, traded down 11.50 points, or 0.9 percent, and stood about 5.80 points under fair value.
Government bonds managed modest gains ahead of a massive $27 billion 2-year note auction, scheduled for Wednesday afternoon.
The 10-year Treasury note added 5/32 to yield (CBOE: ^TNX - news) 5.11 percent while the 30-year government bond gained 3/32 to yield (CBOE: ^TYX - news) 5.66 percent.
No economic data are set for release on Wednesday. No fresh news will be out until Friday, when a slew of second-tier releases -- including the Chicago Purchasing Managers Index -- will be unfurled.
In the currency sector, the dollar erased 0.2 percent to 124.30 yen while the euro added 0.4 percent to 93.20 cents.
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