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US Stock Futures Decline Ahead Of Economic Data

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US Stock Futures Decline Ahead Of Economic Data

Pre-open movers

US stock futures traded lower in early pre-market trade. The Chicago Fed National Activity Index for October will be released at 8:30 a.m. ET, while the PMI manufacturing index for November will be released at 9:45 a.m. ET. Data on existing home sales for October will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dipped 48 points to 17,753.0, while the Standard & Poor's 500 index futures fell 5.75 points to 2,083.00. Futures for the Nasdaq 100 index declined 11.25 points to 4,678.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.24 percent, STOXX Europe 600 Index declining 0.58 percent and German DAX 30 index dropping 0.43 percent. French CAC 40 Index slipped 0.87 percent and London's FTSE 100 Index fell 0.68 percent.

In Asian markets, Hong Kong's Hang Seng Index fell 0.39 percent, China's Shanghai Composite Index dipped 0.56 percent and India's BSE Sensex fell 0.19 percent.

Broker Recommendation
Analysts at Credit Suisse upgraded Kellogg Company (NYSE: K) from Neutral to Outperform. The price target for Kellogg has been raised from $72 to $76.

Kellogg shares closed at $66.25 on Friday.

Breaking news

  • Tuniu Corp (NASDAQ: TOUR) and HNA Tourism Group, one of three strategic industrial conglomerates of HNA Group, today announced that they have entered into a strategic partnership. To read the full news, click here.
  • MB Financial Inc (NASDAQ: MBFI) and American Chartered Bancorp, Inc. announced the signing of a definitive merger agreement whereby MB Financial will acquire American Chartered and its wholly owned bank subsidiary, American Chartered Bank, in a stock and cash transaction valued at approximately $449 million, or $9.30 per share. To read the full news, click here.
  • Mallinckrodt PLC (NYSE: MNK) reported better-than-expected results for its fiscal fourth quarter on Monday. To read the full news, click here.
  • DDB Worldwide, a division of Omnicom Group Inc. (NYSE: OMC), announced today that it has acquired Grupo ABC, the largest independent advertising and marketing communications group in Brazil. To read the full news, click here.
 

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

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