A Peek Into The Markets: U.S. Stock Futures Down Ahead Of Earnings, Economic Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. HP Inc (NYSE: HPQ), PVH Corp (NYSE: PVH) and Williams-Sonoma, Inc. (NYSE: WSM) will release earnings after the closing bell. The flash Composite Purchasing Managers’ Index for August will be released at 9:45 a.m. ET, while data on new home sales for July will be released at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Midland, Texas at 1:05 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 46 points to 21,840.00, while the Standard & Poor’s 500 index futures fell 7.25 points to 2,445.50. Futures for the Nasdaq 100 index declined 17 points to 5,861.50.

Oil prices traded lower as Brent crude futures fell 0.40 percent to trade at $51.66 per barrel, while US WTI crude futures dropped 0.23 percent to trade at $47.72 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.34 percent, STOXX Europe 600 Index rising 0.52 percent and German DAX 30 index declining 0.03 percent. The UK’s FTSE index was trading lower by 0.04 percent, while French CAC 40 Index slipped 0.01 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.26 percent, Hong Kong’s Hang Seng Index gained 0.91 percent, China’s Shanghai Composite Index slipped 0.08 percent and India’s BSE Sensex rose 0.11 percent.

Broker Recommendation

Analysts at B. Riley upgraded DSW Inc. (NYSE: DSW) from Neutral to Buy.

DSW shares rose 2.01 percent to $18.80 in pre-market trading.

Breaking news

  • Lowe’s Companies, Inc. (NYSE: LOW) reported weaker-than-expected profit for its second quarter on Wednesday.
  • Shares of Paratek Pharmaceuticals Inc (NASDAQ: PRTK) surged 31 percent in pre-market trading after Bloomberg reported that the company is exploring strategic options, including a potential sale.
  • salesforce.com, inc. (NYSE: CRM) reported better-than-expected earnings for its second quarter and raised its outlook for the year.
  • Intuit Inc. (NASDAQ: INTU) reported upbeat earnings for its fourth quarter and disclosed that its CFO Neil Williams will leave the company in January, 2018.


Posted-In: A Peek Into The Markets B.RileyNews Eurozone Futures Global Pre-Market Outlook Markets

Leave a Reply

Your email address will not be published. Required fields are marked *


two × 5 =