Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Consumer Spending Data

A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Consumer Spending Data


Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. Data on personal income and consumer spending for July will be released at 8:30 a.m. ET, while the Dallas Fed manufacturing index for August is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 7 points to 18,373.00, while the Standard & Poor’s 500 index futures fell 0.50 points to 2,168.00. Futures for the Nasdaq 100 index declined 1.25 points to 4,784.50.

Oil prices traded lower as Brent crude futures declined 1.54 percent to trade at $49.15 per barrel, while US WTI crude futures also fell 1.47 percent to trade at $46.94 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.85 percent, STOXX Europe 600 Index falling 0.50 percent and German DAX 30 index dropping 0.77 percent. The UK's FTSE index was trading lower by 0.31 percent, while French CAC 40 Index declined 1.05 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 2.30 percent, Hong Kong’s Hang Seng Index fell 0.38 percent, China’s Shanghai Composite Index slipped 0.01 percent and India’s BSE Sensex gained 0.43 percent.

Broker Recommendation

Analysts at Longbow Research downgraded Harley-Davidson Inc (NYSE: HOG) from Neutral to Underperform.

Harley-Davidson shares fell 1.58 percent to $51.74 in pre-market trading.

Breaking news

  • Mylan NV (NASDAQ: MYL) disclosed that its American unit would unveil the first generic to EpiPen Auto-Injector at a cost of $300 per two-pack carton. This represented a discount over 50 percent to its list price or wholesale acquisition cost of the branded medicine. To read the full news, click here.
  • Novogen Ltd (NASDAQ: NVGN) reported the appointment of two internationally experienced pharmaceutical industry executives to its management team. Dr Gordon Hirsch will join the company as Chief Medical Officer, commencing in the fourth quarter.
  • Carl Icahn revealed an additional stake in Herbalife Ltd. (NYSE: HLF). The famed investor disclosed a 2.3 million shares purchase made on Friday.
  • Westar Energy Inc (NYSE: WR) disclosed that its board declared a quarterly dividend of $0.38 per share, payable October 3 to shareholders of record as of September 9.

Related Articles (MYL + NVGN)

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Posted-In: Longbow Research U.S. stock futuresNews Eurozone Futures Global Pre-Market Outlook Markets