Market Overview

US Stock Futures Tumble; Jobs Report In Focus

US Stock Futures Tumble; Jobs Report In Focus

Pre-open movers

US stock futures traded lower in early pre-market trade. The employment situation report for August will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 190.5 points to 16,157.5, while the Standard & Poor's 500 index futures fell 22.35 points to 1,923.65. Futures for the Nasdaq 100 index declined 48 points to 4,181.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.74 percent, STOXX Europe 600 Index declining 1.84 percent and German DAX 30 index tumbling 1.90 percent. French CAC 40 Index shrank 1.89 percent and London's FTSE 100 Index declined 1.65 percent.

In Asian markets, Japan's Nikkei Stock Average fell 2.15 percent, Hong Kong's Hang Seng Index slipped 0.45 percent and India's BSE Sensex dipped 2.18 percent.

Broker Recommendation
Analysts at Baird downgraded Caterpillar Inc. (NYSE: CAT) from undefined to Neutral and lowered the price target from $89.00 to $77.00.

Caterpillar shares fell 1.40 percent to $73.41 in pre-market trading.

Breaking news

  • Genentech, a member of the Roche Holding Ltd. (ADR) (OTC: RHHBY), today announced that the U.S. Food and Drug Administration (FDA) has granted breakthrough therapy designation to ACE910 (RG6013, RO5534262) for the prophylactic treatment of people who are 12 years or older with hemophilia A with factor VIII inhibitors. To read the full news, click here.
  • VeriFone Systems Inc (NYSE: PAY) reported better-than-expected results for its fiscal third quarter, but the company issued a weak forecast. To read the full news, click here.
  • Novartis AG (ADR) (NYSE: NVS) announced today that the European Commission has approved Farydak(R) (panobinostat, previously known as LBH589) capsules, in combination with bortezomib* and dexamethasone, for the treatment of adult patients with relapsed and/or refractory multiple myeloma who have received at least two prior regimens including bortezomib and an immunomodulatory agent (IMiD). To read the full news, click here.
  • Cooper Companies Inc (NYSE: COO) reported upbeat earnings for its fiscal third quarter. However, the company issued a weak revenue forecast. To read the full news, click here.

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Posted-In: Baird US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets