US Stock Futures Drop; All Eyes On Jobs Report

US stock futures traded lower in early pre-market trade. Data on nonfarm payrolls for July will be released at 8:30 a.m. ET, while consumer credit data for June will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 30.5 points to 17,344.5, while the Standard & Poor's 500 index futures fell 3.35 points to 2,076.15. Futures for the Nasdaq 100 index declined 7.05 points to 4,517.70.

European markets were lower today, with the Spanish Ibex Index falling 0.32 percent, STOXX Europe 600 Index dropping 0.38 percent and German DAX 30 index declining 0.40 percent. French CAC 40 Index slipped 0.31 percent and London's FTSE 100 Index fell 0.07 percent. In Asian markets, Japan's Nikkei Stock Average rose 0.29 percent, Hong Kong's Hang Seng Index climbed 0.73 percent, China's Shanghai Composite Index jumped 2.26 percent and India's BSE Sensex fell 0.22 percent.

Analysts at Barclays upgraded

from Underweight to Overweight and lowered the price target from $67.00 to $56.00. Viacom shares dipped 13.9351 percent to close at $44.77 yesterday.