U.S. stock futures are slightly lower after S&P 500 snaps 7-day winning streak

U.S. stock futures opened slightly lower Tuesday night after the S&P 500 ended a seven-day winning streak, its longest since August.

Dow Jones Industrial Average futures fell by 54 points, or 0.16%. S&P 500 and Nasdaq 100 futures dipped 0.10% and 0.06%, respectively.

During the regular session, the 30-stock Dow fell 208.98 points, or 0.6%. The S&P 500 ended the day down by 0.2%. The Nasdaq Composite rose nearly 0.2%. The tech-heavy index rose to a fresh all-time high on Tuesday.

Investors may be worried the economy might be approaching its peak and that a correction could be on the way. In addition to complacency in the market, the combination of profit-margin pressures, inflation fears, Fed tapering and possible higher taxes could contribute to an eventual drawdown, market strategists say.

Recovery-centered stocks like Caterpillar, Chevron and JPMorgan Chase pulled back Tuesday while Big Tech stocks like Amazon, Apple and Alphabet gained. Energy stocks took a hit after West Texas Intermediate crude futures hit their highest level in more than six years before turning negative.

The 10-year Treasury yield fell 7.2 basis points to 1.36% as investors react to the potential of slower economic growth. That was its lowest level since February. The yield on the 30-year Treasury bond was 6.4 basis points lower at 1.98%.

Investors will be listening more clues on the direction of the Federal Reserve’s monetary policy when it releases its latest meeting minutes Wednesday afternoon, which could be a catalyst for a move in both bonds and stocks.

The Fed’s minutes are expected to be dovish with the central bank looking for progress in the labor market and not worried that recent inflation will become a persistent trend. Slowing down the bond buying would be the Fed’s first major retreat from the easy policies it put in place when the economy shut down last year.

The end of the Fed’s $120 billion a month in Treasury and mortgage purchases would also signal that the central bank’s next move could be to raise interest rates.

Weekly mortgage applications and the Job Openings and Labor Turnover Survey are also scheduled to be released Wednesday.

— CNBC’s Patti Domm contributed reporting.