A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data, Fed Speakers

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Data on initial jobless claims for the recent week will be released at 8:30 a.m. ET, while the index of leading economic indicators for January is schedule for release at 10:00 a.m. ET. The Kansas City Fed manufacturing index for February is schedule for release at 11:00 a.m. ET. New York Federal Reserve Bank President William Dudley will speak in New York at 10:00 a.m. ET, while Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, Georgia at 12:10 p.m. ET. Dallas Federal Reserve Bank President Robert Kaplan will speak at 3:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 3 points to 24,779.00, while the Standard & Poor’s 500 index futures rose 4.50 points to 2,703.25. Futures for the Nasdaq 100 index rose 0.25 points to 6,760.75.

Oil prices traded lower as Brent crude futures fell 0.17 percent to trade at $65.31 per barrel, while US WTI crude futures dropped 0.44 percent to trade at $61.41 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, while the EIA’s eekly report on petroleum inventories will be released at 11:00 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.22 percent, STOXX Europe 600 Index dropping 0.59 percent and German DAX 30 index falling 0.62 percent. The UK's FTSE index was trading lower by 0.94 percent, while French CAC 40 Index fell 0.36 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.07 percent, Hong Kong’s Hang Seng Index dropped 1.48 percent, China’s Shanghai Composite Index gained 2.17 percent and India’s BSE Sensex slipped 0.07 percent.

Broker Recommendation

Analysts at Susquehanna upgraded KLA-Tencor Corp KLAC from Negative to Neutral.

KLA-Tencor shares rose 0.30 percent to $110.00 in pre-market trading.

Breaking news

• Orbital ATK Inc OA reported weaker-than-expected earnings for its fourth quarter.



• Zebra Technologies Corp. ZBRA reported upbeat results for its fourth quarter on Thursday.



• Pandora Media Inc P reported stronger-than-expected revenue for its fourth quarter. Its total subscription revenue climbed 63.2 percent to $97.7 million.



• Avis Budget Group Inc. CAR posted better-than-expected earnings for its fourth quarter. The rental car company issued strong FY18 sales guidance.