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A Peek Into The Markets: US Stock Futures Down Ahead Of Fed Meeting

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A Peek Into The Markets: US Stock Futures Down Ahead Of Fed Meeting
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Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Federal Open Market Committee will begin its two-day policy meeting today. The Consumer Price Index for May will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 42 points to 25,306.00, while the Standard & Poor’s 500 index futures fell 3 points to 2,783.50. Futures for the Nasdaq 100 index declined 7.75 points to 7,186.75.

Oil prices traded higher as Brent crude futures rose 0.38 percent to trade at $76.75 per barrel, while US WTI crude futures gained 0.29 percent to trade at $66.29 a barrel.

 

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.51 percent, STOXX Europe 600 Index climbing 0.01 percent and German DAX 30 index falling 0.05 percent. The UK's FTSE index was trading lower by 0.26 percent, while French CAC 40 Index fell 0.22 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.33 percent, Hong Kong’s Hang Seng Index climbed 0.13 percent, China’s Shanghai Composite Index surged 0.89 percent and India’s BSE Sensex rose 0.59 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded Newmont Mining Corporation (NYSE: NEM) from Equal-Weight to Overweight.

Newmont Mining shares rose 0.49 percent to $38.75 in pre-market trading.

Breaking news

  • Restoration Hardware Holdings, Inc (NYSE: RH) reported better-than-expected results for its first quarter. The company issued strong second-quarter earnings and sales guidance.
  • Lands' End, Inc. (NASDAQ: LE) reported upbeat results for its first quarter on Tuesday.
  • Medpace Holdings, Inc. (NASDAQ: MEDP) priced its 3 million secondary common stock offering by selling shareholder at $42.25 per share.
  • Dave & Buster’s Entertainment Inc (NASDAQ: PLAY) reported stronger-than-expected earnings for its first quarter. The company reaffirmed its FY18 outlook. The company also said CEO Stephen King is set to retire, but remain as Chairman. CFO Brian Jenkins has been promoted to CEO.

 

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

 

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