US Stock Futures Slip Ahead Of Wholesale Inventories Data

Pre-open movers

US stock futures traded lower in early pre-market trade.

The NFIB Small Business Optimism Index for November will be released at 7:30 a.m. ET, while wholesale inventories data for October will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dipped 61 points to 17,790.00, while the Standard & Poor's 500 index futures fell 7.20 points to 2,052.20. Futures for the Nasdaq 100 index dropped 16.50 points to 4,262.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.54%, STOXX Europe 600 Index dropping 1.09%. German DAX 30 index slipped 0.85%, French CAC 40 Index tumbled 1.18% and London's FTSE 100 Index fell 1%.

French trade deficit shrank to 4.61 billion euros ($5.67 billion) in October, versus EUR4.72 billion in September. German exports fell by 0.5% in seasonally-adjusted terms on the month in October, while imports dropped by 3.1%. UK industrial production declined 0.1% on the month in October.

In Asian markets, Japan's Nikkei Stock Average fell 0.68%, Hong Kong's Hang Seng Index tumbled 2.34%, China's Shanghai Composite Index dipped 5.43% and India's Sensex slipped 1.15%.

Broker Recommendation
Analysts at Mizuho Securities downgraded Walgreen Co WAG from Buy to Neutral. The price target for Walgreen has been lowered from $83 to $72.

Walgreen's shares closed at $67.73 yesterday.

Breaking news

• H & R Block HRB reported second-quarter 2015 earnings after Monday's close. The company reported EPS of $(0.45), missing estimates by $(0.03). To read the full news, click here.
• Energy Recovery ERII announced today that the Company has secured the first sale of its IsoBoost™ system for midstream gas processing to ConocoPhillips COP. To read the full news, click here.
• RedHill Biopharma RDHL today announced that it has submitted a Marketing Authorization Application to the UK Medicines and Healthcare Products Regulatory Agency and several other member states seeking European marketing approval of RHB-102 for cancer patients suffering from chemotherapy and radiotherapy-induced nausea and vomiting. To read the full news, click here.
• Valeant Pharmaceuticals International VRX is putting aside its acquisition strategy, according to sources, as reported by Reuters. Valeant instead will focus on paying down dent and buying back shares. To read the full news, click here.