A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Federal Reserve Bank of Minneapolis President Neel Kashkari is set to speak in Minneapolis, Minn at 9:30 a.m. ET. Data on new home sales for August will be released at 10:00 a.m. ET, while the Dallas Fed manufacturing index for September is schedule for release at 10:30 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan will speak in San Antonio, Texas at 1:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 85 points to 18,105.00, while the Standard & Poor’s 500 index futures declined 9 points to 2,149.00. Futures for the Nasdaq 100 index fell 26.25 points to 4,829.75.

Oil prices traded higher as Brent crude futures gained 1.33 percent to trade at $46.50 per barrel, while US WTI crude futures also rose 0.97 percent to trade at $44.91 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.25 percent, STOXX Europe 600 Index declining 1.42 percent and German DAX 30 index dropping 1.55 percent. The UK's FTSE index was trading lower by 1.24 percent, while French CAC 40 Index fell 1.72 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.25 percent, Hong Kong’s Hang Seng Index declined 1.56 percent, China’s Shanghai Composite Index slipped 1.76 percent and India’s BSE Sensex fell 1.30 percent.

Broker Recommendation

Analysts at Stifel Nicolaus downgraded RetailMeNot Inc SALE from Hold to Sell.

RetailMeNot shares fell 1.23 percent to close at $11.27 on Friday.

Breaking news

• GW Pharmaceuticals plc GWPH revealed Epidiolex has achieved primary endpoint in treating Lennox-Gastaut syndrome. The positive results came from its randomized, double-blind and placebo-controlled final stage clinical study. To read the full news, click here.



• Pfizer Inc. PFE disclosed that its Board and Executive Leadership Team are not in favor of splitting the company into Innovative Health and Essential Health. The company believes it's best positioned to optimize future value creation in its current structure for its shareholders. To read the full news, click here.



• Cal-Maine Foods Inc CALM reported a wider-than-expected loss for its first quarter.



• TransCanada Corporation (USA) TRP offered to buy Columbia Pipeline Partners LP CPPL for $15.75 per share.