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. Data in import and export prices for April will be released at 8:30 a.m. ET. The Treasury budget data for April is schedule for release at 2:00 p.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in South Burlington, VT at 12:30 p.m. ET, while Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Minneapolis, MN at 1:20 p.m. ET.

Futures for the Dow Jones Industrial Average tumbled 53 points to 20,854.00, while the Standard & Poor’s 500 index futures declined 4 points to 2,389.25. Futures for the Nasdaq 100 index slipped 3 points to 5,673.25.

Oil prices traded higher as Brent crude futures rose 1.11 percent to trade at $49.27 per barrel, while US WTI crude futures gained 1.20 percent to trade at $49.27 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.57 percent, STOXX Europe 600 Index declining 0.10 percent and German DAX 30 index dropping 0.10 percent. The UK's FTSE index was trading higher by 0.38 percent, while French CAC 40 Index fell 0.09 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.29 percent, Hong Kong’s Hang Seng Index rose 0.51 percent, China’s Shanghai Composite Index declined 0.90 percent and India’s BSE Sensex rose 1.05 percent.

Broker Recommendation

Analysts at MKM Partners downgraded Yelp Inc YELP from Buy to Neutral.

Yelp shares fell 27 percent to $25.33 in pre-market trading.

Breaking news

• Crocs, Inc. CROX reported better-than-expected results for its first quarter, but lowered its FY17 outlook.



• Walt Disney Co DIS reported upbeat earnings for its second quarter, but sales missed expectations.



• Time Inc TIME reported a wider-than-expected loss for its first quarter and lowered its quarterly dividend from $0.19 per share to $0.04 per share.



• NVIDIA Corporation NVDA reported better-than-expected results for its first quarter and issued a strong sales forecast for the current quarter.