US Stock Futures Drop Ahead Of Earnings, Economic Data

US stock futures traded lower in early pre-market trade. Data on weekly jobless claims and consumer spending for March will be released at 8:30 a.m. ET. The Chicago PMI for April March will be released at 9:45 a.m. ET, while the Kansas City Fed manufacturing index for April will be released at 11:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 42.50 points to 17,911.50, while the Standard & Poor's 500 index futures fell 5.05 points to 2,093.95. Futures for the Nasdaq 100 index dropped 23.65 points to 4,456.10.

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.06 percent, STOXX Europe 600 Index falling 0.31 percent and German DAX 30 index rising 0.26 percent. French CAC 40 Index slipped 0.27 percent and London's FTSE 100 Index fell 0.04 percent. In Asian markets, Japan's Nikkei Stock Average dipped 2.69 percent, China's Shanghai Composite Index dropped 0.78 percent, Hong Kong's Hang Seng Index fell 0.94 percent and India's BSE Sensex fell 0.79 percent.

Analysts at Bank of America downgraded

from Buy to Neutral and lowered the price target from $65.00 to $55.00. Yelp shares fell 17 percent to $42.56 in pre-market trading.