A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Fed Speakers

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The Chicago Fed National Activity Index for August is schedule for release at 8:30 a.m. ET. New York Federal Reserve Bank President William Dudley is set to speak in Syracuse, New York at 8:30 a.m. ET. The Dallas Fed manufacturing report for September will be released at 10:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans will speak in Grand Rapids, Michigan at 12:40 p.m. ET, while Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Grand Forks, North Dakota at 6:30 p.m. ET.

Futures for the Dow Jones Industrial Average declined 6 points to 22,293.00, while the Standard & Poor’s 500 index futures fell 1.25 point at 2,498.25. Futures for the Nasdaq 100 index slipped 4.25 points to 5,931.50.

Oil prices traded higher as Brent crude futures rose 1.16 percent to trade at $57.52 per barrel, while US WTI crude futures gained 0.45 percent to trade at $50.89 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.80 percent, STOXX Europe 600 Index gaining 0.18 percent and German DAX 30 index climbing 0.21 percent. The UK's FTSE index was trading lower by 0.04 percent, while French CAC 40 Index fell 0.19 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.50 percent, Hong Kong’s Hang Seng Index declined 1.36 percent, China’s Shanghai Composite Index slipped 0.33 percent and India’s BSE Sensex slipped 1.38 percent.

Broker Recommendation

Analysts at Deutsche Bank upgraded General Motors Company GM from Hold to Buy.

General Motors shares rose 1.52 percent to $40.02 in pre-market trading.

Breaking news

• MabVax Therapeutics Holdings, Inc. MBVX reported a $1.25 million registered direct offering.
   
• Boston Scientific Corporation BSX reported the FDA approval for MRI labeling on high-voltage devices and U.S. launch of resonate devices.



• Diana Containerships Inc DCIX reported a 1-for-3 reverse split.



• Genuine Parts Company GPC agreed to acquire Europe's Alliance Automotive Group for $2 billion