US Stock Futures Tumble Ahead of Earnings

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Pre-open movers
US stock futures traded lower in early pre-market trade, ahead of earnings from some major companies. Futures for the Dow Jones Industrial Average tumbled 101 points to 16,208.00, while the Standard & Poor's 500 index futures fell 5.60 points to 1,875.40. Futures for the Nasdaq 100 index slipped 6.50 points to 3,797.50.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index dropping 0.59%, STOXX Europe 600 Index falling 0.57%. German DAX 30 index slipped 1.13%, French CAC 40 Index fell 0.86% and London's FTSE 100 Index dropped 0.87%. Italian industrial orders climbed 1.5% on the month in August. In Asian markets, Japan's Nikkei Stock Average jumped 3.98%, Hong Kong's Hang Seng Index rose 0.20%, China's Shanghai Composite Index gained 0.66% and India's BSE Sensex gained 1.23%.
Broker Recommendation
Analysts at Nomura upgraded Comerica
CMA
from Reduce to Neutral and lowered the price target from $42.00 to $41.00. Comerica's shares dipped 3.06% to close at $43.06 on Friday.
Breaking news
  • Hasbro HAS reported better-than-expected earnings for the third quarter. To read the full news, click here.
  • SAP AG SAP reported a 15% gain in its Q3 net profit and cut its earnings forecast for the year. To read the full news, click here.
  • Teletrac announced it is partnering with Samsung Electronics America SSNLF to expand its fleet management offerings to the Android platform on Samsung's Galaxy Tab devices. To read the full news, click here.
  • Cleco CNL today announced that it has entered into a definitive agreement to be acquired by a group of North American long-term infrastructure investors led by Macquarie Infrastructure and Real Assets (MIRA) and British Columbia Investment Management Corporation (bcIMC), together with John Hancock Financial and other infrastructure investors. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarkets
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