A Peek Into The Markets: US Stock Futures Down Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. The FHFA house price index for March is schedule for release at 9:00 a.m. ET, while existing home sales report for April will be released at 10:00 a.m. ET. Atlanta Fed President Raphael Bostic will speak at 10:35 a.m. ET, while Philadelphia Federal Reserve Bank President Patrick Harker is set to speak at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average tumbled 30 points to 24,829.00, while the Standard & Poor’s 500 index futures fell 2.25 points to 2,728.25. Futures for the Nasdaq 100 index declined 1.75 points to 6,957.25.

Oil prices traded lower as Brent crude futures fell 1.32 percent to trade at $78.75 per barrel, while US WTI crude futures dropped 1.18 percent to trade at $70.99 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index rising 0.36 percent, STOXX Europe 600 Index gaining 0.16 percent and German DAX 30 index dropping 0.21 percent. The UK's FTSE index was trading lower by 0.26 percent, while French CAC 40 Index rose 0.29 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.11 percent, Hong Kong’s Hang Seng Index rose 0.31 percent, China’s Shanghai Composite Index dipped 0.45 percent and India’s BSE Sensex climbed 0.93 percent.

Broker Recommendation

Analysts at UBS upgraded Deere & Company DE from Neutral to Buy.

Deere shares rose 1.39 percent to $158.75 in pre-market trading.

Breaking news

• Best Buy Co., Inc. BBY reported better-than-expected earnings for its first quarter.



• Sanderson Farms, Inc. SAFM reported weaker-than-expected results for its second quarter.



• Medtronic plc MDT reported upbeat earnings for its fourth quarter on Thursday.



• Williams-Sonoma, Inc. WSM reported stronger-than-expected results for its first quarter. The company also raised its FY18 earnings and sales guidance.