US Stock Futures Edge Lower Ahead Of Producer Price Index

US stock futures traded slightly lower in early pre-market trade, ahead of earnings from Macy's

and Deere & Co

. The producer price index for final demand for the month of April will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 10 points to 16,665.00, while the Standard & Poor's 500 index futures fell 2.30 points to 1,892.00. Futures for the Nasdaq 100 index dropped 4.75 points to 3,604.00.

European markets were lower today, with the Spanish Ibex Index dropping 0.37%, STOXX Europe 600 Index falling 0.26%. German DAX 30 index declined 0.18%, French CAC 40 Index fell 0.16% and London's FTSE 100 Index dropped 0.15%. UK unemployment declined to 6.8% in the three months to March, while French consumer prices remained unchanged in April versus March. German annual inflation increased 1.3% y/y in April. In Asian markets, Japan's Nikkei Stock Average dropped 0.14%, Hong Kong's Hang Seng Index rose 1.03%, China's Shanghai Composite Index fell 0.14% and India's BSE Sensex slipped 0.24%.

Analysts at Barclays upgraded Western Digital

from “equal-weight” to “overweight.” The target price for Western Digital has been raised from $95 to $98. Western Digital's shares closed at $82.60 yesterday.