US Stock Futures Edge Lower; GDP Report In Focus

US stock futures traded slightly lower in early pre-market trade. Data on first-quarter GDP will be released at 8:30 a.m. ET, while the Chicago PMI for May will be released at 9:45 a.m. ET. The University of Michigan's consumer sentiment index for May will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dipped 10.50 points to 18,123.50, while the Standard & Poor's 500 index futures fell 2.60 points to 2,119.15. Futures for the Nasdaq 100 index declined 7.95 points to 4,534.80.

European markets were mostly lower today, with the Spanish Ibex Index falling 0.30 percent, STOXX Europe 600 Index declining 0.58 percent and German DAX 30 index dropping 0.65 percent. French CAC 40 Index slipped 0.72 percent and London's FTSE 100 Index rose 0.20 percent. In Asian markets, Japan's Nikkei Stock Average rose 0.06 percent, China's Shanghai Composite Index dipped 0.18 percent, Hong Kong's Hang Seng Index slipped 0.11 percent and India's BSE Sensex jumped 1.17 percent.

Analysts at Raymond James downgraded

from Outperform to Market Perform and removed the price target of $62.00. Tech Data shares fell 0.06 percent to $64.45 in pre-market trading.