Futures Tumble on Massive Miss from



The Dow Jones Industrial Average was headed for a big drop on Thursday after a disappointing quarterly report from 3M.

Futures for the 30-stock index dropped 71 points, or 0.3%, to 26,470.

Futures for the S&P 500 eked up 3.75 points, or 0.1%, at 2,934.50

NASDAQ futures regained 30.75 points, or 0.4%, to 7,878.50, after strong Facebook results. Shares of the social media giant jumped 8.6% in the pre-market.

Shares of 3M dropped more than 9% after the company reported earnings that were much lower than analysts had expected. The company also slashed its full-year outlook and announced plans to cut 2,000 jobs worldwide.

More than 170 S&P 500 companies have reported quarterly results so far. Of those companies, 78% have posted better-than-expected earnings.

In terms of data, there will be jobless claims and durable goods at 8:30 a.m. ET and housing vacancies due at 10:00 a.m. ET.

Overseas, in Japan, the Nikkei 225 gained 0.5% Tuesday, while in Hong Kong, the Hang Seng Index doffed 0.9%.

Oil prices took on 17 cents to $66.06 U.S. a barrel.

Gold prices lost a dollar to $1,278.40 U.S. an ounce.