US Stock Futures Edge Lower Ahead Of Jobless Claims Data

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Pre-open movers
US stock futures fell in early pre-market trading. Data on weekly jobless claims and import prices for March will be released at 8:30 a.m. ET, while the Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 17 points to 16,343.00, while the Standard & Poor's 500 index futures fell 1.90 points to 1,862.90. Futures for the Nasdaq 100 index dropped 5 points to 3,586.00.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index dropping 1.06%, London's FTSE 100 index gaining 0.08% and STOXX Europe 600 Index slipping 0.25%. German DAX 30 index dropped 0.16% and French CAC 40 Index fell 0.25%. French industrial production climbed 0.1% in February versus January, while the consumer price index gained 0.4% in March versus February. Asian markets ended mostly higher today. Japan's Nikkei Stock Average rose 0.43 points, Hong Kong's Hang Seng Index gained 1.51%, China's Shanghai Composite surged 1.38% and India's BSE Index jumped 0.06%.
Broker Recommendation
Analysts at Bank of America downgraded Bed Bath & Beyond
BBBY
from “buy” to “neutral.” The target price for Bed Bath & Beyond has been lowered from $87 to $72. Bed Bath & Beyond's shares closed at $67.91 yesterday.
Breaking news
  • Costco Wholesale COST reported a 5% gain in its total same-store sales for the five-week period ended April 6. To read the full news, click here.
  • Rite Aid RAD reported better-than-expected fiscal fourth-quarter net income. Rite Aid's quarterly net profit fell to $55.4 million, or $0.06 per share, versus a year-ago profit of $123.1 million, or $0.13 per share. To read the full news, click here.
  • Acura Pharmaceuticals ACUR announced today a letter agreement with Pfizer Inc. providing for the termination of Pfizer's PFE license to Acura's AVERSION Technology and the return to Acura of the FDA approved Oxecta product. To read the full news, click here.
  • Merck MRK today announced additional data from the ongoing C-WORTHy study, a multi-arm Phase 2 clinical trial evaluating the efficacy and safety of a once-daily, all-oral regimen combining MK-5172, an investigational hepatitis C virus (HCV) NS3/4A protease inhibitor, and MK-8742, an investigational HCV NS5A replication complex inhibitor, among patients with chronic HCV Genotype 1 infection (GT1). To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsBank of AmericaUS Stock Futures
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