A Peek Into The Markets: US Stock Futures Mostly Lower Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded mostly lower in early pre-market trade. The Markit manufacturing PMI for August is schedule for release at 9:45 a.m. ET. Data on construction spending for July and the ISM manufacturing composite index for August will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average fell 40 points to 25,948, while the Standard & Poor’s 500 index futures traded fell 0.10 points to 2,902.00. Futures for the Nasdaq 100 index rose 2.25 points to 7,663.50.

Oil prices traded higher as Brent crude futures rose 1.47 percent to trade at $79.30 per barrel, while US WTI crude futures climbed 1.85 percent to trade at $71.09 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.12 percent, STOXX Europe 600 Index declining 0.52 percent and German DAX 30 index dropping 0.80 percent. The UK's FTSE index was trading lower by 0.31 percent, while French CAC 40 Index fell 1.06 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.05 percent, Hong Kong’s Hang Seng Index rose 0.94 percent, China’s Shanghai Composite Index climbed 1.10 percent and India’s BSE Sensex declined 0.40 percent.

Broker Recommendation

Analysts at BTIG Research downgraded Wingstop Inc WING from Buy to Neutral.

Wingstop shares rose 0.71 percent to close at $66.95 on Friday.

Breaking News

• Transocean LTD RIG announced plans to acquire Ocean Rig UDW Inc ORIG for approximately $2.7 billion in cash and stock.
• United Therapeutics Corporation UTHR and MannKind Corporation MNKD disclosed a collaboration for pulmonary hypertension products.
• Conn's Inc CONN reported better-than-expected results for its second quarter.
• TravelCenters of America LLC TA agreed to sell Minit Mart convenience store business for approximately $330.8 million to EG Group.