A Peek Into The Market Before The Trading Starts

US stock futures are lower this morning. Futures for the Dow Jones Industrial Average tumbled 97 points to 14,950.00 and S&P 500 index futures fell 13.20 points to 1,610.50. Nasdaq 100 futures declined 27.75 points to 2,928.50.

European markets were lower today. The STOXX Europe 600 Index fell 2.21%, London's FTSE 100 index dropped 2.44%, French CAC 40 Index declined 2.49% and German DAX 30 index dipped 2.47%. Asian markets ended lower, with Japan's Nikkei Stock Average falling 1.74%, China's Shanghai Composite dropping 2.77% and Australia's ASX/S&P500 falling 2.02%. Hong Kong's Hang Seng Index declined 2.88% and India's Sensex tumbled 2.72%.

Analysts at JP Morgan downgraded FedEx

from “overweight” to “neutral.” The target price for FedEx has been lowered from $116 to $108. FedEx's shares closed at $100.54 yesterday.