US Stock Futures Signal Lower Start On Wall Street

US stock futures traded lower in early pre-market trade. The Empire State manufacturing for June will be released at 8:30 a.m. ET, while industrial production data for May will be released at 9:15 a.m. ET. The NAHB housing market index for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 65.50 points to 17,753.50, while the Standard & Poor's 500 index futures fell 7.55 points to 2,077.45. Futures for the Nasdaq 100 index declined 18.25 points to 4,429.00.

European markets were lower today, with the Spanish Ibex Index falling 1.59 percent, STOXX Europe 600 Index declining 1.19 percent and German DAX 30 index dropping 1.61 percent. French CAC 40 Index slipped 1.23 percent and London's FTSE 100 Index fell 0.74 percent. In Asian markets, Japan's Nikkei Stock Average fell 0.09 percent, China's Shanghai Composite Index tumbled 2 percent, Hong Kong's Hang Seng Index slipped 1.53 percent and India's BSE Sensex rose 0.61 percent.

Analysts at Morgan Stanley downgraded

from Overweight to Equalweight and lowered the price target from $80.00 to $75.00. SanDisk shares fell 1.74 percent to $64.95 in pre-market trading.