A Peek Into The Markets: U.S. Stock Futures Edge Lower; All Eyes On Jobs Report

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for December and the international trade report for November will be released at 8:30 a.m. ET. Data on factory orders for November will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 11:15 a.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak at the American Economic Association's annual meeting in Chicago at 3:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 12 points to 19,809.00, while the Standard & Poor’s 500 index futures fell 1 point to 2,263.50. Futures for the Nasdaq 100 index rose 1 point to 4,963.00.

Oil prices traded higher as Brent crude futures gained 0.86 percent to trade at $57.38 per barrel, while US WTI crude futures also rose 0.82 percent to trade at $54.20 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.04 percent, STOXX Europe 600 Index falling 0.20 percent and German DAX 30 index dropping 0.08 percent. The UK's FTSE index was trading lower by 0.11 percent, while French CAC 40 Index fell 0.25 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.34 percent, Hong Kong’s Hang Seng Index rose 0.21 percent, China’s Shanghai Composite Index declined 0.35 percent and India’s BSE Sensex dropped 0.44 percent.

Broker Recommendation

Analysts at UBS downgraded McDonald's Corporation MCD from Buy to Neutral.

McDonald's shares fell 0.93 percent to $118.59 in pre-market trading.

Breaking news

• Greenbrier Companies Inc GBX reported weaker-than-expected earnings for its first quarter on Friday.



• Meredith Corporation MDP is said to have contacted Time Inc TIME to express interest in a potential merger, according to sources as reported by Bloomberg. A group headed by Edgar Bronfman Jr. offered $18.00 per share, according to the NY Post and that offer was rejected.



• G-III Apparel Group, Ltd. GIII lowered its guidance for FY17.



• Gap Inc. GPS reported a 2 percent year-over-year gain in its comparable sales for the November and December 2016 holiday season. Gap comparable sales for December rose 4 percent, compared to a 5 percent decline last year.