Market Overview

A Peek Into The Markets: U.S. Stock Futures Down; Crude Oil Falls


Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings reports from several companies. Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Dayton, Ohio at 8:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 145 points to 24,438.00, while the Standard & Poor’s 500 index futures fell 13.25 points to 2,642.00. Futures for the Nasdaq 100 index fell 37.25 points to 6,495.00.

Oil prices traded lower as Brent crude futures fell 0.24 percent to trade at $62.44 per barrel, while US WTI crude futures slipped 0.59 percent to trade at $58.94 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 1 percent, STOXX Europe 600 Index falling 0.32 percent and German DAX 30 index dropping 0.48 percent. The UK's FTSE index was trading higher by 0.19 percent, while French CAC 40 Index fell 0.49 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.65 percent, Hong Kong’s Hang Seng Index climbed 1.29 percent, China’s Shanghai Composite Index gained 0.98 percent and India’s BSE Sensex climbed 0.87 percent.

Broker Recommendation

Analysts at Bank of America upgraded NetApp Inc. (NASDAQ: NTAP) from Neutral to Buy..

NetApp shares rose 1.73 percent to $58.73 in pre-market trading.

Breaking news

  • Under Armour Inc (NYSE: UAA) reported in-line earnings for its fourth quarter, while sales exceeded estimates.
  • AmerisourceBergen Corp. (NYSE: ABC) shares surged over 15 percent premarket following Monday Dow Jones report of takeover talks with Walgreens Boots Alliance Inc (NASDAQ: WBA).
  • Kadmon Holdings Inc (NASDAQ: KDMN) disclosed positive topline results from a Phase 2 study of KDO25.
  • Eli Lilly and Co (NYSE: LLY) disclosed that its top-line phase 3 study of Taltz met the primary and all key secondary endpoints.

Posted-In: A Peek Into The Markets Bank of AmericaNews Eurozone Futures Global Pre-Market Outlook Markets


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