Market Overview

A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of GDP Report

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A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of GDP Report

Pre-open movers

U.S. stock futures traded flat in early pre-market trade. U.S. Gross Domestic Product report for the fourth quarter will be released at 8:30 a.m. ET, while the Chicago PMI for February will be released at 9:45 a.m. ET. The pending home sales index for January is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average rose 2 points to 25,431.00, while the Standard & Poor’s 500 index futures fell 0.50 points to 2,747.00. Futures for the Nasdaq 100 index rose 1 point to 6,917.50.

Oil prices traded lower as Brent crude futures fell 0.27 percent to trade at $66.45 per barrel, while US WTI crude futures dropped 0.22 percent to trade at $62.87 a barrel. The Energy Information Administration’s weekly report on petroleum inventories will be released at 10:30 a.m. ET.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.61 percent, STOXX Europe 600 Index declining 0.46 percent and German DAX 30 index dropping 0.37 percent. The UK's FTSE index was trading lower by 0.25 percent, while French CAC 40 Index fell 0.48 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.44 percent, Hong Kong’s Hang Seng Index declined 1.36 percent, China’s Shanghai Composite Index dropped 0.99 percent and India’s BSE Sensex slipped 0.47 percent.

Broker Recommendation

Analysts at KeyBanc upgraded Tutor Perini Corp (NYSE: TPC) from Sector Weight to Overweight.

Tutor Perini shares fell 2.67 percent to close at $21.85 on Tuesday.

Breaking news

  • Lowe's Companies, Inc. (NYSE: LOW) reported weaker-than-expected earnings for its fourth quarter.
  • Etsy Inc (NASDAQ: ETSY) reported better-than-expected earnings for its fourth quarter. The company sees FY18 gross merchandise sales growth of 14-16 percent year-over-year with sales growth expected to grow 21-23 percent.
  • Dycom Industries, Inc. (NYSE: DY) reported upbeat earnings for its fourth quarter.
  • Booking Holdings Inc. (NASDAQ: PCLN) reported upbeat earnings for its fourth quarter on Tuesday.

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

 

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