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

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Consumer Price Index for July and housing starts data for July is schedule for release at 8:30 a.m. ET. Data on industrial production for July will be released at 9:15 a.m. ET, while data on e-commerce retail sales for the second quarter will be released at 10:00 a.m. ET. Atlanta Fed President Dennis Lockhart is set to speak in Knoxville, Tennessee at 12:30 p.m. ET.

Futures for the Dow Jones Industrial Average fell 28 points to 18,551.00, while the Standard & Poor’s 500 index futures declined 2.50 points to 2,183.00. Futures for the Nasdaq 100 index slipped 4 points to 4,817.50.

Oil prices traded higher as Brent crude futures gained 0.54 percent to trade at $48.61 per barrel, while US WTI crude futures also rose 0.59 percent to trade at $45.99 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.73 percent, STOXX Europe 600 Index dropping 0.53 percent and German DAX 30 index declining 0.65 percent. The UK's FTSE index was trading lower by 0.41 percent, while French CAC 40 Index slipped 0.51 percent. The eurozone's adjusted trade surplus dropped to 23.4 billion euros ($26.4 billion) in June, compared to EUR24.6 billion in May. U.K. inflation increased to 0.6 percent in July.

In Asian markets, Japan’s Nikkei Stock Average fell 1.62 percent, Hong Kong’s Hang Seng Index dropped 0.09 percent, China’s Shanghai Composite Index declined 0.49 percent and India’s BSE Sensex fell 0.31 percent.

Broker Recommendation

Analysts at Bernstein downgraded JPMorgan Chase & Co. JPM from Outperform to Market Perform.

JPMorgan shares fell 0.99 percent to $65.07 in pre-market trading.

Breaking news

• Fabrinet FN posted in-line earnings for its fourth quarter, while sales exceeded analysts’ estimates. The company also issued a strong outlook for the current quarter. To read the full news, click here.



• Dicks Sporting Goods Inc DKS released its Q2 results before market open on Tuesday. Earnings per share came in above Wall Street consensus expectations, sending shares higher. To read the full news, click here.



• AlarmCom Hldg Inc ALRM reported better-than-expected results for its second quarter on Monday. To read the full news, click here.



• Coty Inc COTY reported earnings results for the fourth quarter. The company delivered better than the expected adjusted earnings driven by solid sales number. To read the full news, click here.