A Peek Into The Markets: US Stock Futures Down, Dow Futures Tumble Over 400 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade.

The Challenger job-cut report for November is schedule for release at 7:30 a.m. ET, while the ADP national employment report for November will be released at 8:15 a.m. ET. International trade report for October, initial jobless claims for the latest week and nonfarm productivity for the third quarter will be released at 8:30 a.m. ET. US Services Purchasing Managers' Index for November is schedule for release at 9:45 a.m. ET. Data on factory orders for October and the ISM's non-manufacturing index for November will be released at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, Georgia at 12:15 p.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 6:30 p.m. ET. Federal Reserve Bank Chairman Jerome Powell is set to speak in Washington, DC at 6:45 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 462 points to 24,584.00, while the Standard & Poor’s 500 index futures traded fell 49.5 points to 2,652.25. Futures for the Nasdaq 100 index declined 156.75 points to 6,643.75.

Oil prices traded lower as Brent crude futures fell 2.94 percent to trade at $59.75 per barrel, while US WTI crude futures dropped 3.18 percent to trade at $51.21 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 11:00 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.7 percent, STOXX Europe 600 Index declining 2.12 percent and German DAX 30 index dropped 2.3 percent. The UK's FTSE index was trading lower by 2.52 percent, while French CAC 40 Index fell 2.2 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.91 percent, Hong Kong’s Hang Seng Index dipped 2.47 percent, China’s Shanghai Composite Index declined 1.68 percent and India’s BSE Sensex slipped 1.59 percent.

Broker Recommendation

Analysts at Stifel Nicolaus downgraded Facebook, Inc. FB from Buy to Hold.

Facebook shares fell 3.5 percent to $133.05 in pre-market trading.

Breaking News

• Genesco Inc. GCO reported better-than-expected results for its third quarter.
• Thor Industries, Inc. THO reported downbeat results for its third quarter.
• Marvell Technology Group Ltd. MRVL reported stronger-than-expected results for its third quarter on Tuesday.
• Guidewire Software Inc GWRE reported upbeat earnings for its first quarter, but issued weak second-quarter guidance.