A Peek Into The Markets: U.S. Stock Futures Decline Ahead Of Consumer Spending Report

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on motor vehicle sales for July will be released today, while personal income and consumer spending data for June will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 35 points to 18,298.00, while the Standard & Poor’s 500 index futures declined 5.75 points to 2,160.00. Futures for the Nasdaq 100 index fell 10 points to 4,737.25.

Oil prices traded higher as Brent crude futures rose 1.45 percent to trade at $42.90 per barrel, while US WTI crude futures also rose 1.32 percent to trade at $40.59 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.90 percent, STOXX Europe 600 Index declining 0.99 percent and German DAX 30 index dropping 1.34 percent. The UK's FTSE index was trading lower by 0.43 percent, while French CAC 40 Index declined 1.44 percent. The Eurozone’s producer prices increased 0.7 percent in June from May.

In Asian markets, Japan’s Nikkei Stock Average fell 1.47 percent, China’s Shanghai Composite Index gained 0.61 percent and India’s BSE Sensex fell 0.08 percent.

Broker Recommendation

Analysts at BMO Capital downgraded The Kroger Co KR from Outperform to Market Perform.

Kroger shares fell 1.15 percent to $33.62 in pre-market trading.

Breaking news

• CVS Health Corp CVS announced better-than-expected earnings for the second quarter. However, its revenue failed to meet the predictions sending the stock down marginally in the pre-market. The company also boosted its full year adjusted EPS outlook. To read the full news, click here.



• Tenet Healthcare Corp THC released its Q2 results after market close on Monday. Earnings per share came in below Wall Street consensus expectations. To read the full news, click here.



• Sodastream International Ltd SODA reported stronger-than-expected earnings for its second quarter on Tuesday.
   
• Texas Roadhouse Inc TXRH released its Q2 results after market close on Monday. Earnings per share came in above Wall Street consensus expectations, however, shares shares fell over 9 percent in pre-market trading due to the company's miss on sales estimates. To read the full news, click here.