A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. U.S. officials confirmed that Trump administration will raise tariffs on Chinese goods by the end of the week. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Beijing, China at 7:00 a.m. ET. The Labor Department's JOLTS report for March will be released at 10:00 a.m. ET. Data on consumer credit for March will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 166 points to 26,247.00, while the Standard & Poor’s 500 index futures fell 19 points to 2,914.00. Futures for the Nasdaq 100 index tumbled 58.5 points to 7,746.75.

Oil prices traded lower as Brent crude futures fell 1.3 percent to trade at $70.35 per barrel, while US WTI crude futures dropped 1 percent to trade at $61.62 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.2 percent, STOXX Europe 600 Index declined 0.5 percent and German DAX 30 index dropped 0.6 percent. The UK's FTSE index was trading lower by 1 percent, while French CAC 40 Index fell 0.7 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.51 percent, Hong Kong’s Hang Seng Index gained 0.52 percent, China’s Shanghai Composite Index rose 0.69 percent and India’s BSE Sensex slipped 0.05 percent.

Broker Recommendation

Analysts at Barclays downgraded Boeing Co BA from Overweight to Equal-Weight.

Boeing shares fell 1.2 percent to $367.10 in pre-market trading.

Breaking News

• Gartner Inc IT reported upbeat results for its first quarter.
• Mallinckrodt PLC MNK announced better-than-expected results for its first quarter and raised its FY19 EPS guidance.
• US Foods Holding Corp USFD announced better-than-expected results for its first quarter.
• Dean Foods Co DF reported weaker-than-expected results for its first quarter.