US Stock Futures Edge Lower Ahead Of Earnings - Oncolytics Biotech (NASDAQ:ONCY), Omnicom Group (NYSE:OMC)

Pre-open movers

US stock futures traded slightly lower in early pre-market trade. The U.S. Treasury monthly budget report for January will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 24 points to 17,769.00, while the Standard & Poor's 500 index futures fell 2.20 points to 2,060.00. Futures for the Nasdaq 100 index declined 1 point to 4,275.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.87%, STOXX Europe 600 Index declining 0.27% and German DAX 30 index dropping 0.32%. French CAC 40 Index slipped 0.57% and London's FTSE 100 Index fell 0.40%. In Asian markets, Hong Kong's Hang Seng Index declined 0.87%, China's Shanghai Composite Index climbed 0.51% and India's BSE Sensex surged 0.63%.

Broker Recommendation

Analysts at BMO Capital downgraded

OmnicomOMC

from Outperform to Market Perform and lowered the price target from $82.00 to $77.00. Omnicom's shares fell 0.82% to close at $75.19 yesterday.

Breaking news

Oncolytics Biotech ONCY today announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation for its lead product candidate, REOLYSIN®, for the treatment of ovarian cancer. To read the full news, click here.
WellCare Health Plans Inc. WCG reported downbeat earnings for the fourth quarter and issued a weak earnings forecast for the full year. To read the full news, click here.
Pacira Pharmaceuticals PCRX today announced resolution of matters pertaining to certain promotional aspects of EXPAREL detailed in a recent Warning Letter from the U.S. Food and Drug Administration's (FDA) Office of Prescription Drug Promotion (OPDP). To read the full news, click here.
Wix.com Ltd WIX reported a narrower-than-expected loss for the fourth quarter. To read the full news, click here.

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