A Peek Into The Markets: US Stock Futures Fall Ahead Of Producer Price Index

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Producer Price Index for July is schedule for release at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 141 points to 26,224 while the Standard & Poor’s 500 index futures fell 17.6 points to 2,922.50. Futures for the Nasdaq 100 index declined 61.75 points to 7,674.00.

Oil prices traded higher as Brent crude futures rose 1.5% to trade at $58.26 per barrel, while US WTI crude futures rose 1.5% to trade at $53.32 a barrel. The Baker Hughes North American rig count report for the recent 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 falling 1%, STOXX Europe 600 Index declining 0.5% and German DAX 30 index dropping 1%. The UK's FTSE index was trading lower by 0.1%, while French CAC 40 Index fell 0.9%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.44%, Hong Kong’s Hang Seng Index fell 0.69%, China’s Shanghai Composite Index dropped 0.71% and India’s BSE Sensex rose 0.68%.

Broker Recommendation

Analysts at JP Morgan downgraded Synaptics, Incorporated SYNA from Neutral to Underweight and lowered the price target from $35 to $25.

Synaptics shares rose 5 percent to close at $33.23 on Thursday.

Breaking News

• Tribune Company TRCO reported better-than-expected earnings for its second quarter.
• Uber Technologies Inc UBER reported weaker-than-expected results for its second quarter on Thursday.
• Yelp Inc YELP reported better-than-expected earnings for its second quarter. The company also announced CFO Charles Baker will step down on Sept. 2 in order to accept an executive position at another company. Yelp has initiated an executive search for a new CFO.
• Symantec Corporation SYMC reported stronger-than-expected results for its first quarter. Broadcom announced plans to purchase Symantec enterprise security unit for $10.7 billion in cash.