Market Overview

A Peek Into The Markets: US Stock Futures Tumble, Dow Futures Down Over 150 Points

A Peek Into The Markets: US Stock Futures Tumble, Dow Futures Down Over 150 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Empire State manufacturing index for June is schedule for release at 8:30 a.m. ET, while data on industrial production for May will be released at 9:15 a.m. ET. The University of Michigan's consumer sentiment index for June is schedule for release at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak at 1:30 p.m. ET.

Futures for the Dow Jones Industrial Average fell 153 points to 25,057.00, while the Standard & Poor’s 500 index futures traded declined 12 points to 2,776.50. Futures for the Nasdaq 100 index dropped 20.25 points to 7,291.00.

Oil prices traded lower as Brent crude futures fell 1.25 percent to trade at $74.99 per barrel, while US WTI crude futures fell 0.34 percent to trade at $66.66 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.22 percent, STOXX Europe 600 Index dropping 0.36 percent and German DAX 30 index falling 0.17 percent. The UK's FTSE index was trading lower by 0.74 percent, while French CAC 40 Index rose 0.19 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.50 percent, Hong Kong’s Hang Seng Index dropped 0.43 percent, China’s Shanghai Composite Index fell 0.73 percent and India’s BSE Sensex rose 0.06 percent.

Broker Recommendation

Analysts at Canaccord Genuity upgraded Badger Meter, Inc. (NYSE: BMI) from Sell to Hold.

Badger Meter shares rose 0.67 percent to $45.40 in pre-market trading.

Breaking news

  • Dr. Reddy's Laboratories Limited (NYSE: RDY) reported the FDA final approval and launch of Buprenorphine and Naloxone Sublingual Film in the U.S. market.

  • Avalara, Inc. (NYSE: AVLR) priced its 7.5 million share IPO at $24 per share.

  • Jabil Inc (NYSE: JBL) reported stronger-than-expected earnings for its third quarter on Thursday.

  • Puxin Limited (NYSE: NEW) priced its 7.2 million ADS IPO at $17 per ADS.





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