A Peek Into The Market Before The Trading Starts

US stock futures are lower this morning, after a strong decline in European and Asian markets. Futures for the Dow Jones Industrial Average dipped 123 points to 12,865.00 and S&P 500 index futures fell 14.50 points to 1,360.70. Nasdaq 100 futures tumbled 25.50 points to 2,648.75.

European markets were lower today. The STOXX Europe 600 Index fell 1.93%, London's FTSE 100 Index moved down 1.59%, French CAC 40 index fell 2.30% and German DAX 30 index dipped 2.62%. Asian markets ended lower, with Japan's Nikkei Stock Average declining 0.20%, China's Shanghai Composite dropping 0.76% and Australia's S&P/ASX 200 moving down 0.32%. Hong Kong's Hang Seng index dropped 1.84% and India's Sensex fell 1.60%.

Analysts at Citigroup downgraded Progressive Corp

from “buy” to “neutral.” The target price for Progressive Corp is set to $22. Progressive Corp shares dropped 4.51% to close at $21.37 on Friday.