US Stock Futures Down; Crude Oil Drops

US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dipped 55 points to 12,048.00 and S&P 500 index futures fell 3.10 points to 1,270.80. Nasdaq 100 futures dropped 4.25 points to 2,450.75. US stocks closed lower on Friday, with the Dow Jones Industrial Average dropping 2.22% to 12,118.57, the S&P 500 index falling 2.46% to 1,278.04 and the Nasdaq 100 index declining 2.82% to 2,747.48. Data on factory orders for April will be released at 10 a.m. ET. Conns Inc CONN is projected to post its Q1 earnings at $0.33 per share on revenue of $202.10 million. Shuffle Master Inc SHFL is projected to post its Q2 EPS at $0.20 on revenue of $65.12 million. Dollar General Corporation DG is estimated to post its Q1 earnings at $0.60 per share on revenue of $3.83 billion. Sport Chalet Inc SPCHA is expected to post a Q4 loss at $0.01 per share. Quanex Building Products Corporation NX is projected to post a FQ2 loss at $0.08 per share on revenue of $200.72 million. Shares of QuickLogic Corp QUIK tumbled 23.83% on Friday after the company priced a public offering of 4.5 million shares. European markets were mostly lower today. The STOXX Europe 600 Index fell 0.36%, French CAC 40 index rose 0.40% and German DAX 30 index dropped 1.30%. Asian markets ended mostly lower, with Japan's Nikkei Stock Average dropping 1.71%, China's Shanghai Composite falling 2.73% and Australia's S&P/ASX 200 moving down 2.03%. Hong Kong's Hang Seng index declined 2.01% and India's Sensex surged 0.27%. China's nonmanufacturing Purchasing Manager's Index dropped to 55.2 in May versus 56.1 in April. Nymex crude-oil futures dropped $1.51 to $81.72 a barrel in electronic trade, while gold futures fell $2.90 an ounce to $1,619.20. The euro gained 0.14% versus the US dollar to trade at $1.2435, up from $1.2422. The dollar dropped to ¥78.04 versus the Japanese yen, from ¥78.68 on Friday.