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A Peek Into The Markets: U.S. Stock Futures Tumble Ahead Of Economic Data

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A Peek Into The Markets: U.S. Stock Futures Tumble Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET, while the FHFA House Price Index for January is schedule for release at 9:00 a.m. ET. The flash Composite Purchasing Managers' Index for March will be released at 9:45 a.m. ET, while the index of leading economic indicators for February is schedule for release at 10:00 a.m. ET. The Kansas City Fed manufacturing index for March is schedule for release at 11:00 a.m. ET.

Futures for the Dow Jones Industrial Average fell 174 points to 24,553.00, while the Standard & Poor’s 500 index futures fell 17.75 points to 2,700.25. Futures for the Nasdaq 100 index dipped 76.25 points to 6,807.75.

Oil prices traded lower as Brent crude futures fell 0.48 percent to trade at $69.14 per barrel, while US WTI crude futures dropped 0.41 percent to trade at $64.90 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.

 

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 1.04 percent, STOXX Europe 600 Index declining 0.89 percent and German DAX 30 index falling 1.17 percent. The UK's FTSE index was trading lower by 0.65 percent, while French CAC 40 Index fell 1.15 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.99 percent, Hong Kong’s Hang Seng Index dropped 1.09 percent, China’s Shanghai Composite Index slipped 0.53 percent and India’s BSE Sensex fell 0.39 percent.

Broker Recommendation

Analysts at Societe Generale upgraded General Mills, Inc. (NYSE: GIS) from Sell to Hold.

General Mills shares fell 0.38 percent to $45.33 in pre-market trading.

Breaking news

  • Commercial Metals Company (NYSE: CMC) reported weaker-than-expected results for its second quarter.
  • Darden Restaurants, Inc. (NYSE: DRI) reported upbeat earnings for its third quarter, while sales missed estimates. The company also raised its FY18 earnings outlook.
  • Accenture plc (NYSE: ACN) reported better-than-expected results for its second quarter and raised its FY18 guidance.
  • G-III Apparel Group, Ltd. (NASDAQ: GIII) posted upbeat results for its fourth quarter, but issued weak guidance.

 

Related Articles (ACN + CMC)

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

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