Market Overview

A Peek Into The Markets: US Stock Futures Point To Lower Wall Street Open

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A Peek Into The Markets: US Stock Futures Point To Lower Wall Street Open

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 10:00 a.m. ET, while New York Federal Reserve Bank President John Williams is set to speak in Bali, Indonesia at 9:15 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 132 points to 26,413, while the Standard & Poor’s 500 index futures traded fell 13 points to 2,880.50. Futures for the Nasdaq 100 index fell 35 points to 7,357.

Oil prices traded higher as Brent crude futures rose 0.83 percent to trade at $84.61 per barrel, while US WTI crude futures rose 0.61 percent to trade at $74.74 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.18 percent, STOXX Europe 600 Index declining 0.41 percent and German DAX 30 index dropped 0.49 percent. The UK's FTSE index was trading lower by 0.47 percent, while French CAC 40 Index fell 0.34 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.32 percent, Hong Kong’s Hang Seng Index fell 0.11 percent, China’s Shanghai Composite Index rose 0.17 percent and India’s BSE Sensex rose 0.28 percent.

Broker Recommendation

Analysts at Deutsche Bank downgraded Kroger Co (NYSE: KR) from Hold to Sell and lowers the price target from $30 to $24.

Kroger shares fell 2.93 percent to $28.49 in pre-market trading.

Breaking News

  • Conagra Brands (NYSE: CAG) reported a $575 million common stock offering.
  • Helen of Troy Limited (NASDAQ: HELE) reported upbeat results for its second quarter and raised its FY19 guidance.
  • Pinnacle Foods Inc. (NYSE: PF) issued strong earnings forecast for its third quarter, but issued downbeat sales forecast.
  • AZZ Inc (NYSE: AZZ) posted downbeat results for its second quarter.

Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Global Pre-Market Outlook Markets

 

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