A Peek Into The Markets: U.S. Stock Futures Slide Ahead Of Consumer Sentiment Report

US stock futures traded lower in early pre-market trade. The University of Michigan consumer sentiment index for June is scheduled for release at 10:00 a.m. ET, while the Federal Budget report for May will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 85 points to 17,796.00, while the Standard & Poor's 500 index futures fell 11.75 points to 2,093.75. Futures for the Nasdaq 100 index declined 30.25 points to 4,473.75. Oil prices traded lower as Brent crude futures dropped 1.23 percent to trade at $51.31 per barrel, while US WTI crude futures also declined 1.42 percent to trade at $49.84 a barrel.

European markets were lower today, with the Spanish Ibex Index falling 2.04 percent, STOXX Europe 600 Index declining 1.70 percent and German DAX 30 index dropping 2.01 percent. The UK's FTSE index was trading lower by 1.48 percent, while French CAC 40 Index fell 1.76 percent. French industrial production increased 1.2 percent in April. In Asian markets, Japan's Nikkei Stock Average fell 0.40 percent, Hong Kong's Hang Seng Index declined 1.20 percent and India's BSE Sensex dropped 0.48 percent.

Analysts at William Blair initiated coverage on

with a Outperform rating. Amazon.com shares fell 0.64 percent to $723.00 in pre-market trading.