Market Overview

A Peek Into The Markets: U.S. Stock Futures Point To Lower Start For Wall Street

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A Peek Into The Markets: U.S. Stock Futures Point To Lower Start For Wall Street
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Pre-open movers

US stock futures traded lower in early pre-market trade. There were no major US economic releases Monday. Futures for the Dow Jones Industrial Average dropped 57 points to 17,719.00, while the Standard & Poor's 500 index futures fell 6.50 points to 2,080.75. Futures for the Nasdaq 100 index declined 20 points to 4,437.50.

Oil prices traded lower as Brent crude futures dropped 0.93 percent to trade at $50.07 per barrel, while US WTI crude futures also declined 1.08 percent to trade at $48.54 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.43 percent, STOXX Europe 600 Index declining 1.51 percent and German DAX 30 index dropping 1.22 percent. The UK's FTSE index was trading lower by 0.73 percent, while French CAC 40 Index fell 1.24 percent.

In Asian markets, Japan's Nikkei Stock Average fell 3.51 percent, Hong Kong's Hang Seng Index declined 2.52 percent, China's Shanghai Composite Index fell 3.21 percent and India's BSE Sensex dropped 0.90 percent.

Broker Recommendation

Analysts at Jefferies downgraded SAP SE (ADR) (NYSE: SAP) from Hold to Underperform.

SAP shares fell 2.13 percent to $76.77 in pre-market trading.

Breaking news

  • Valeant Pharmaceuticals Intl Inc (NYSE: VRX) CEO Joseph Papa bought 202,000 shares at $24.48 per share Monday morning. To read the full news, click here.
  • Lannett Company, Inc. (NYSE: LCI) revealed Monday it received approval from the U.S. Food and Drug Administration of its Abbreviated New Drug Application (ANDA) for Neomycin Sulfate Tablets USP, 500 mg, the therapeutic equivalent to the reference listed drug, Neomycin Sulfate Tablets USP, 500 mg, of Teva Pharmaceuticals USA, Inc. To read the full news, click here.
  • BioScrip Inc. (NASDAQ: BIOS) said it struck a deal to acquire HS Infusion Holdings Inc. in a synergistic, transformational and accretive transactions with considerable gains for all stake holders. To read the full news, click here.

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

 

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