A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Jobs Data

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The Challenger job-cut report for December will be released at 7:30 a.m. ET, while the ADP national employment report for December is schedule for release at 8:15 a.m. ET. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. The Markit Services PMI for December is schedule for release at 9:45 a.m. ET, while the ISM non-manufacturing index for December will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 3 points to 19,853.00, while the Standard & Poor’s 500 index futures fell 1.75 points to 2,262.25. Futures for the Nasdaq 100 index slipped 6 points to 4,927.75.

Oil prices traded higher as Brent crude futures gained 0.55 percent to trade at $56.77 per barrel, while US WTI crude futures also rose 0.56 percent to trade at $53.56 a barrel. The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET, while the EIA’s weekly report on petroleum inventories will be released at 11:00 a.m. ET.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index gaining 0.33 percent, STOXX Europe 600 Index rising 0.05 percent and German DAX 30 index dropping 0.10 percent. The UK's FTSE index was trading higher by 0.01 percent, while French CAC 40 Index fell 0.02 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.37 percent, Hong Kong’s Hang Seng Index rose 1.46 percent, China’s Shanghai Composite Index climbed 0.21 percent and India’s BSE Sensex climbed 0.92 percent.

Broker Recommendation

Analysts at Deutsche Bank downgraded Macy's Inc M from Buy to Hold and lowered the price target from $47.00 to $34.00.

Macy's shares fell 9.18 percent to $32.55 in pre-market trading.

Breaking news

• Macy's Inc M announced plans to close 68 stores and reduced its FY16 earnings guidance.



• Gartner Inc IT announced plans to acquire CEB Inc. CEB for $2.6 billion in cash and stock.



• Kohl's Corporation KSS lowered its earnings forecast for fiscal 2016.



• Cesca Therapeutics Inc KOOL reported the FDA approval for its IDE supplement for Phase III clinical trial.