A Peek Into The Markets: US Stock Futures Down Ahead Of FOMC Minutes

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Consumer Price Index for March will be released at 8:30 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET. The Treasury budget report for March is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average tumbled 156 points to 24,195.00, while the Standard & Poor’s 500 index futures dropped 19.75 points to 2,635.25. Futures for the Nasdaq 100 index declined 50 points to 6,574.25.

Oil prices traded higher as Brent crude futures rose 0.42 percent to trade at $71.34 per barrel, while US WTI crude futures rose 0.53 percent to trade at $65.86 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 0.03 percent, STOXX Europe 600 Index declining 0.43 percent and German DAX 30 index dropping 0.53 percent. The UK's FTSE index was trading lower by 0.18 percent, while French CAC 40 Index fell 0.40 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.49 percent, Hong Kong’s Hang Seng Index climbed 0.55 percent, China’s Shanghai Composite Index rose 0.56 percent and India’s BSE Sensex rose 0.18 percent.

Broker Recommendation

Analysts at Stifel Nicolaus upgraded AeroVironment, Inc. AVAV from Hold to Buy.

AeroVironment shares rose 1.31 percent to close at $46.37 on Tuesday.

Breaking news

• Analogic Corporation ALOG agreed to be acquired by Altaris Capital Affiliate for $84 per share.



• Fastenal Company FAST reported in-line results for its first quarter on Wednesday.



• Intec Pharma Ltd NTEC disclosed a common stock offering. The size was not disclosed.



• Hanwha Q Cells Co Ltd -ADR HQCL reported downbeat earnings for its fourth quarter.