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

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Producer Price Index for September will be released at 8:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago, Illinois at 1:35 p.m. ET, while Federal Reserve Chairman Jerome Powell will speak in Denver, Colorado at 1:50 p.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in St. Cloud, Minnesota at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 214 points to 26,225 while the Standard & Poor’s 500 index futures traded fell 23.25 points to 2,914.25. Futures for the Nasdaq 100 index declined 62.75 points to 7,677.25.

Oil prices traded lower as Brent crude futures fell 0.4% to trade at $58.12 per barrel, while US WTI crude futures fell 0.6% to trade at $52.44 a barrel.

A Peek Into Global Markets

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European markets were lower today, with the Spanish Ibex Index falling 1.3%, STOXX Europe 600 Index declining 0.9% and German DAX 30 index dropping 1.1%. The UK's FTSE index was trading lower by 0.4%, while French CAC 40 Index fell 0.9%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.99%, Hong Kong’s Hang Seng Index rose 0.28%, China’s Shanghai Composite Index rose 0.29% and India’s BSE Sensex fell 0.38%.

Broker Recommendation

Analysts at Jefferies downgraded Oracle Corporation ORCL from Buy to Hold and lowered the price target from $66 to $60.

Oracle shares fell 1.2% to $54.13 in pre-market trading.

Breaking News

Helen of Troy Limited HELE reported better-than-expected results for its second quarter and raised its 2020 forecast.
Evoqua Water Technologies Corp. AQUA announced the acquisition of majority stake in Frontier Water.
NIO Inc. NIO shares climbed around 9% in pre-market trading after the company reported Q3 vehicle sales up 35% from Q2..
Ambarella, Inc. AMBA shares dropped around 11% in pre-market trading after its customer, Hangzhou Hikvision, was put on a blacklist by the Trump administration.