Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Challenger job-cut report for February is schedule for release at 7:30 a.m. ET, while data on initial jobless claims and import prices for February will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 27 points to 20,841.00, while the Standard & Poor’s 500 index futures fell 2 points to 2,362.00. Futures for the Nasdaq 100 index slipped 3.75 points to 5,359.25.

Oil prices traded lower as Brent crude futures dropped 1.83 percent to trade at $52.14 per barrel, while US WTI crude futures fell 1.97 percent to trade at $49.29 a barrel. The Energy Information Administration’s weekly report on natural gas stocks 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 rising 0.56 percent, STOXX Europe 600 Index falling 0.30 percent and German DAX 30 index dropping 0.21 percent. The UK's FTSE index was trading lower by 0.75 percent, while French CAC 40 Index dropped 0.15 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.34 percent, Hong Kong’s Hang Seng Index dropped 1.18 percent, China’s Shanghai Composite Index fell 0.74 percent and India’s BSE Sensex rose 0.09 percent.

Broker Recommendation

Analysts at Mizuho downgraded Guess?, Inc. (NYSE:GES) from Neutral to Underperform.

Guess? shares rose 0.89 percent to close at $12.49 on Wednesday.

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