A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Boston Federal Reserve Bank President Eric Rosengren is set to speak in Quincy, Massachusetts at 7:45 a.m. ET, while Federal Reserve Bank of Dallas President Rob Kaplan will speak in Austin, Texas at 9:30 a.m. ET. Federal Reserve Bank of Dallas President Rob Kaplan will speak in Irving, Texas at 8:15 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 51 points to 18,408.00, while the Standard & Poor’s 500 index futures fell 5.50 points to 2,172.00. Futures for the Nasdaq 100 index declined 11.25 points to 4,785.25.

Oil prices traded lower as Brent crude futures fell 1.68 percent to trade at $49.15 per barrel, while US WTI crude futures also fell 1.60 percent to trade at $46.86 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.15 percent, STOXX Europe 600 Index declining 0.45 percent and German DAX 30 index dropping 0.36 percent. The UK's FTSE index was trading lower by 0.27 percent, while French CAC 40 Index declined 0.42 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.04 percent, Hong Kong’s Hang Seng Index rose 0.75 percent, China’s Shanghai Composite Index declined 0.55 percent and India’s BSE Sensex declined 0.85 percent.

Broker Recommendation

Analysts at Goldman Sachs upgraded Navistar International Corp NAV from Sell to Neutral and raised the price target from $18.00 to $20.00.

Navistar shares rose 0.78 percent to $19.27 in pre-market trading.

Breaking news

• Restoration Hardware Holdings Inc RH reported stronger-than-expected results for its second quarter on Thursday.



• Zumiez Inc. ZUMZ posted a narrower-than-expected loss for its second quarter on Thursday.



• Finisar Corporation FNSR reported upbeat results for its first quarter and issued a strong forecast for the current quarter.



• Brady Corp BRC released results for its fourth quarter. The company posted quarterly earnings of $0.49 per share on revenue of $282.1 million.