Market Overview

A Peek Into The Markets: U.S. Stock Futures Down Ahead Of ADP Jobs Report

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

U.S. stock futures traded lower in early pre-market trade. The ADP national employment report for November will be released at 8:15 a.m. ET, while data on nonfarm productivity and unit labor costs for the third quarter will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 51 points to 24,131.00, while the Standard & Poor’s 500 index futures slipped 3.75 points to 2,624.50. Futures for the Nasdaq 100 index fell 28 points to 6,243.75.

Oil prices traded lower as Brent crude futures fell 0.54 percent to trade at $62.52 per barrel, while US WTI crude futures dropped 0.71 percent to trade at $57.21 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. 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 1.05 percent, STOXX Europe 600 Index declining 0.58 percent and German DAX 30 index dropping 0.91 percent. The UK's FTSE index was trading lower by 0.01 percent, while French CAC 40 Index fell 0.50 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.97 percent, Hong Kong’s Hang Seng Index dropped 2.14 percent, China’s Shanghai Composite Index slipped 0.29 percent and India’s BSE Sensex declined 0.63 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded Carnival Corp (NYSE: CCL) from Underweight to Equal-Weight.

Carnival shares rose 0.65 percent to $66.37 in pre-market trading.

Breaking news

  • DaVita Medical Group, a subsidiary of DaVita Inc. (NYSE: DVA), agreed to be acquired by Optum for $4.9 billion in cash.
  • AeroVironment, Inc. (NASDAQ: AVAV) reported stronger-than-expected earnings for its second quarter on Tuesday.
  • Editas Medicine Inc (NASDAQ: EDIT) reported a $50 million stock offering.
  • Dave & Buster's Entertainment Inc (NASDAQ: PLAY) reported better-than-expected earnings for its third quarter.

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

 

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