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

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on international trade in goods for July will be released at 8:30 a.m. ET, while the Dallas Fed manufacturing report for August is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 21 points to 21,788.00, while the Standard & Poor’s 500 index futures fell 1 point to 2,441.50. Futures for the Nasdaq 100 index declined 5 points to 5,820.00.

Oil prices traded lower as Brent crude futures rose 0.04 percent to trade at $52.43 per barrel, while US WTI crude futures declined 1.07 percent to trade at $47.36 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.34 percent, STOXX Europe 600 Index declining 0.45 percent and German DAX 30 index dropping 0.54 percent. The UK's FTSE index was trading lower by 0.08 percent, while French CAC 40 Index fell 0.46 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.01 percent, Hong Kong’s Hang Seng Index gained 0.05 percent, China’s Shanghai Composite Index climbed 0.93 percent and India’s BSE Sensex rose 0.49 percent.

Broker Recommendation

Analysts at Susquehanna downgraded Genesco Inc. GCO from Positive to Neutral.

Genesco shares rose 9.47 percent to close at $27.75 on Friday.

Breaking news

• Gilead Sciences, Inc. GILD announced plans to buy Kite Pharma Inc KITE for around $11.9 billion in cash.



• Orbotech Ltd ORBK disclosed a supply agreement with Unimicron Germany.



• IXYS Corporation )NASDAQ: IXYS) agreed to be acquired by Littelfuse, Inc. LFUS for around $750 million.



• Uni-Pixel Inc UNXL announced plans to file for Chapter 11 bankruptcy in the next one to two business days.