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Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Lower; Netflix Earnings In Focus

A Peek Into The Markets: U.S. Stock Futures Edge Lower; Netflix Earnings In Focus

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade, ahead of earnings from Netflix, Inc. (NASDAQ: NFLX), United Continental Holdings Inc (NYSE: UAL) and J B Hunt Transport Services Inc (NASDAQ: JBHT). The Empire State manufacturing index for April is schedule for release at 8:30 a.m. ET, while the housing market index for April will be released at 10:00 a.m. ET. Federal Reserve Vice Chairman Stanley Fischer is set to speak in New York City at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 13 points to 20,401.00, while the Standard & Poor’s 500 index futures fell 2.25 points to 2,325.25. Futures for the Nasdaq 100 index declined 3.25 points to 5,355.75.

Oil prices traded lower as Brent crude futures fell 0.86 percent to trade at $55.41 per barrel, while US WTI crude futures fell 0.88 percent to trade at $52.71 a barrel.

A Peek Into Global Markets

In Asian markets, Japan’s Nikkei Stock Average rose 0.11 percent, Hong Kong’s Hang Seng Index declined 0.21 percent, China’s Shanghai Composite Index fell 0.74 percent and India’s BSE Sensex fell 0.16 percent.

Broker Recommendation

Analysts at Axiom Capital initiated coverage on Canadian Solar Inc. (NASDAQ: CSIQ) with a Buy rating and a $18.00 price target.

Canadian Solar shares rose 1.81 percent to $12.95 in pre-market trading.

Breaking news

  • China's Ant Financial raised its bid for Moneygram International Inc (NASDAQ: MGI) by 36 percent to $18 per share in cash. To read the full news, click here.
  • Abbott Laboratories (NYSE: ABT) agreed to buy Alere Inc (NYSE: ALR) for $51 per share, versus its earlier offer of $56 per share. To read the full news, click here.
  • Anbang Insurance Group will let its $1.6 billion agreement to acquire Fidelity & Guaranty Life, according to sources as reported by Reuters on Sunday. Anbang failed to get certain state regulatory approvals, the sources said. To read the full news, click here.
  • Shares of Westport Fuel Systems Inc (USA) (NASDAQ: WPRT) surged around 37 percent in pre-market trading after the company reported the signing of a definitive agreement to sell its APU assets for $70 million. To read the full news, click here.



Related Articles (CSIQ + MGI)

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Posted-In: A Peek Into The MarketsM&A News Eurozone Futures Global Pre-Market Outlook Markets

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