Market Overview

A Peek Into The Markets: U.S. Stock Futures Down Ahead Of Earnings

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A Peek Into The Markets: U.S. Stock Futures Down Ahead Of Earnings
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Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings from Kohl's Corporation (NYSE: KSS), Macy's Inc (NYSE: M), Walt Disney Co (NYSE: DIS) and NVIDIA Corporation (NASDAQ: NVDA). Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET, while data on wholesale trade inventories for September will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average declined 25 points to 23,466.00, while the Standard & Poor’s 500 index futures slipped 4.25 points to 2,586.75. Futures for the Nasdaq 100 index fell 11.25 points to 6,330.25.

Oil prices traded higher as Brent crude futures rose 0.28 percent to trade at $63.67 per barrel, while US WTI crude futures gained 0.28 percent to trade at $56.97 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.16 percent, STOXX Europe 600 Index slipping 0.29 percent and German DAX 30 index dropping 0.27 percent. The UK's FTSE index was trading lower by 0.08 percent, while French CAC 40 Index fell 0.20 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.20 percent, Hong Kong’s Hang Seng Index gained 0.79 percent, China’s Shanghai Composite Index climbed 0.36 percent and India’s BSE Sensex gained 0.10 percent.

Broker Recommendation

Analysts at Morgan Stanley downgrades Snap Inc (NYSE: SNAP) from Equal-Weight to Underweight.

Snap shares rose 0.15 percent to $12.93 in pre-market trading.

Breaking news

  • DISH Network Corp (NASDAQ: DISH) reported weaker-than-expected earnings for its third quarter.
  • Monster Beverage Corporation (NASDAQ: MNST) reported downbeat earnings for its third quarter on Wednesday.
  • Camping World Holdings Inc (NYSE: CWH) reported upbeat results for its third quarter on Thursday.
  • Square Inc (NYSE: SQ) reported better-than-expected earnings for its third quarter. The payment processing company raised FY17 earnings guidance from $0.21-$0.23 to $0.24-$0.25.

Posted-In: A Peek Into The Markets Morgan StanleyNews Eurozone Futures Global Pre-Market Outlook Markets

 

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