A Peek Into The Markets: U.S. Stock Futures Edge Lower; Crude Oil Drops

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The Labor Market Conditions Index for February is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 5 points to 20,843.00, while the Standard & Poor’s 500 index futures fell 1.75 points to 2,366.75. Futures for the Nasdaq 100 index declined 4.25 points to 5,382.00.

Oil prices traded lower as Brent crude futures dropped 0.43 percent to trade at $51.15 per barrel, while US WTI crude futures fell 0.55 percent to trade at $48.76 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.36 percent, STOXX Europe 600 Index rising 0.15 percent and German DAX 30 index gaining 0.05 percent. The UK's FTSE index was trading higher by 0.27 percent, while French CAC 40 Index climbed 0.08 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.15 percent, Hong Kong’s Hang Seng Index gained 1.11 percent, China’s Shanghai Composite Index rose 0.76 percent and India’s BSE Sensex rose 0.06 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Johnson Controls International plc JCI from Buy to Neutral and lowered the price target from $48.00 to $44.00..

Johnson Controls shares rose 1 percent to close at $41.23 on Friday.

Breaking news

• Intel Corporation INTC announced plans to acquire Mobileye NV MBLY for $15.3 billion, or $63.54 per share in cash.



• Axalta Coating Systems Ltd AXTA reported a $675 million buyback program.



• Lifetime Brands Inc LCUT reported strong earnings for its fourth quarter on Monday.



• HMS Holdings Corp HMSY announced plans to acquire Eliza for $170 million in cash.