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. US Services Purchasing Managers' Index for December is schedule for release at 9:45 a.m. ET.

Futures for the Dow Jones Industrial Average dipped 170 points to 28,432 while the Standard & Poor’s 500 index futures traded fell 19.2 points to 3,216.25. Futures for the Nasdaq 100 index declined 63 points to 8,747.00.

Oil prices traded higher as Brent crude futures rose 1.5% to trade at $69.60 per barrel, while US WTI crude futures rose 1.2% to trade at $63.78 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1%, STOXX Europe 600 Index declining 1.1% and German DAX 30 index dropping 1.6%. The UK's FTSE index was trading lower by 1%, while French CAC 40 Index fell 1.2%.

In Asian markets, Japan’s Nikkei Stock Average fell 1.91%, Hong Kong’s Hang Seng Index dropped 1.79%, China’s Shanghai Composite Index fell 0.01% and India’s BSE Sensex fell 1.9%.

Broker Recommendation

Analysts at Needham downgraded Apple Inc. AAPL from Strong Buy to Buy and raised the price target from $280 to $350.

Apple shares fell 1% to $294.50 in pre-market trading.

Breaking News

• Capstone Turbine Corporation CPST issued soft preliminary Q3 guidance. The company said it expects preliminary sales of $17.4 million, versus analysts’ estimates of $20.74 million.
• Elanco Animal Health Incorporated ELAN signed an agreement with Dechra to divest Osurnia to Dechra Pharmaceuticals PLC for $135 million in cash.
• AMCON Distributing Co DIT reported a strategic investment in Team Sledd.
• Tremor International Ltd announced plans to acquire News Corp's Unruly.