A Peek Into The Markets: US Stock Futures Drop, All Eyes On Jobs Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for November will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for December and data on wholesale inventories for October will be released at 10:00 a.m. ET. Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in Washington D.C. at 12:15 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 89 points to 24,818, while the Standard & Poor’s 500 index futures traded fell 11.5 points to 2,679.50. Futures for the Nasdaq 100 index declined 31.75 points to 6,792.75.

Oil prices traded higher as Brent crude futures rose 0.77 percent to trade at $60.52 per barrel, while US WTI crude futures gained 0.27 percent to trade at $51.63 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, while the Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.11 percent, STOXX Europe 600 Index surging 1.25 percent and German DAX 30 index gained 0.67 percent. The UK's FTSE index was trading higher by 1.46 percent, while French CAC 40 Index gained 1.51 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.82 percent, Hong Kong’s Hang Seng Index dipped 0.35 percent, China’s Shanghai Composite Index gained 0.03 percent and India’s BSE Sensex climbed 1.02 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Expeditors International of Washington EXPD from Neutral to Sell.

Expeditors shares fell 2.5 percent to $72.43 in pre-market trading.

Breaking News

• Big Lots, Inc. BIG reported a wider-than-expected loss for its third quarter.
• Broadcom Inc AVGO reported stronger-than-expected earnings for its fourth quarter on Thursday.
• United Natural Foods Inc UNFI reported downbeat earnings for its first quarter, while sales exceeded estimates.
• Zumiez Inc. ZUMZ reported upbeat earnings for its third quarter, but issued weak fourth-quarter sales guidance.