A Peek Into The Markets: US Stock Futures Tumble Ahead Of Earnings

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings reports from companies.

Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis, MN at 9:30 a.m. ET, while Atlanta Federal Reserve Bank President Raphael Bostic will speak in Baton Rouge, LA at 1:30 p.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Galveston, Texas at 2:15 p.m. ET, while Chicago Federal Reserve Bank President Charles Evans will speak in Evanston, IL at 6:15 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 267 points to 25,027.00, while the Standard & Poor’s 500 index futures traded dropped 34 points to 2,722.50. Futures for the Nasdaq 100 index fell 107 points to 7,048.25.

Oil prices traded lower as Brent crude futures fell 2.13 percent to trade at $78.13 per barrel, while US WTI crude futures fell 1.33 percent to trade at $68.27 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.63 percent, STOXX Europe 600 Index dipping 1.11 percent and German DAX 30 index declined 1.63 percent. The UK's FTSE index was trading lower by 0.64 percent, while French CAC 40 Index slipped 1.16 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 2.67 percent, Hong Kong’s Hang Seng Index fell 3.08 percent, China’s Shanghai Composite Index dipped 2.26 percent and India’s BSE Sensex fell 0.84 percent.

Broker Recommendation

Analysts at Macquarie downgraded DISH Network Corp DISH from Neutral to Underperform and lowered the price target from $36 to $31.

DISH shares fell 0.72 percent to close at $34.66 on Monday.

Breaking News

• United Technologies Corporation UTX reported upbeat earnings for its third quarter and raised its FY18 guidance.
• Centene Corp CNC reported stronger-than-expected earnings for its third quarter.
• Harley-Davidson Inc HOG reported better-than-expected results for its third quarter.
• Biogen Inc BIIB reported upbeat results for its third quarter.