Market Overview

US Stock Futures Signal Lower Start On Wall Street

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Pre-open movers

US stock futures declined in early pre-market trade. The Federal Budget for October will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 27 points to 15,683.00, while the Standard & Poor's 500 index futures fell 3.20 points to 1,761.90. Futures for the Nasdaq 100 index dropped 8.25 points to 3,356.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.42%, London's FTSE 100 index dropping 1.02% and STOXX Europe 600 Index declining 0.59%. German DAX 30 index fell 0.34% and French CAC 40 Index declined 0.48%. Euro-zone industrial production dropped 0.5% in September versus August. UK's unemployment rate declined to 7.6% in the three months to September. In October, Spain's inflation rate dropped to zero.

Asian markets ended lower today. Japan's Nikkei Stock Average dropped 0.15%, China's Shanghai Composite tumbled 1.83%, Hong Kong's Hang Seng Index fell 1.91% and India's BSE Sensex dipped 0.43%.

Broker Recommendation

Analysts at Pivotal Research downgraded Omnicom Group (NYSE: OMC) from “buy” to “hold.” The target price for Omnicom Group is set to $72.

Omnicom Group's shares closed at $69.99 yesterday.

Breaking news

  • FONEX Data Systems and Cyan (NYSE: CYNI) announced today that FONEX is representing Cyan as a Value Added Reseller (VAR) to address network evolution and orchestration challenges for Canadian and European service providers. To read the full news, click here.
  • Canadian Solar (NASDAQ: CSIQ) posted a profit in the third quarter. Canadian Solar swung to a quarterly net income of $27.7 million, or $0.56 per share, versus a year-ago net loss of $43.7 million, or $1.01 per share. To read the full news, click here.
  • Netflix (NASDAQ: NFLX) today launched a radically new look that makes Netflix on TVs a much richer and more immersive experience. To read the full news, click here.
  • ReneSola (NYSE: SOL) today announced the completion of a 2.5MW solar PV facility near Roswell, New Mexico. To read the full news, click here.

Posted-In: Pivotal Research US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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