A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Consumer Price Index for July is schedule for release at 8:30 a.m. ET. The U.S. Treasury budget report for July is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 71 points to 25,260.00, while the Standard & Poor’s 500 index futures traded fell 6.55 points to 2,830.25. Futures for the Nasdaq 100 index declined 20.50 points to 7,407.25.

Oil prices traded flat as Brent crude futures rose 0.08 percent to trade at $72.87 per barrel, while US WTI crude futures fell 0.10 percent to trade at $67.56 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.11 percent, STOXX Europe 600 Index declining 0.52 percent and German DAX 30 index falling 0.60 percent. The UK's FTSE index was trading lower by 0.51 percent, while French CAC 40 Index fell 0.32 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.98 percent, Hong Kong’s Hang Seng Index fell 1.52 percent, China’s Shanghai Composite Index declined 0.34 percent and India’s BSE Sensex dropped 0.59 percent.

Broker Recommendation

Analysts at Credit Suisse downgraded Akamai Technologies, Inc. AKAM from Outperform to Neutral.

Akamai shares fell 1.13 percent to $73.82 in pre-market trading.

Breaking News

First Data Corp FDC reported a 64 million share offering.

KKR & Co Inc KKR announced plans to acquire 60 percent stake in Ramky Enviro Engineers for $530 million.

Mannatech, Inc. MTEX reported a $500,000 share buyback plan.

VF Corp VFC announced plans to split into two publicly traded companies.