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

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings reports from companies.

The FHFA house price index for August will be released at 9:00 a.m. ET, while the flash Composite Purchasing Managers' Index for October is schedule for release at 9:45 a.m. ET. Data on new home sales for September will be released at 10:00 a.m. ET. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Baton Rouge, LA at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard will speak in Edinburgh at 11:30 a.m. ET, while Cleveland Federal Reserve Bank President Loretta Mester is set to speak in New York at 12:30 p.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic will speak in Baton Rouge at 2:00 p.m. ET. US Federal Reserve Bank Governor Lael Brainard is set to speak in New York at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 102 points to 25,142.00, while the Standard & Poor’s 500 index futures traded dropped 14.5 points to 2,731.75. Futures for the Nasdaq 100 index fell 38.25 points to 7,102.00.

Oil prices traded mixed as Brent crude futures fell 0.21 percent to trade at $76.28 per barrel, while US WTI crude futures rose 0.30 percent to trade at $66.63 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 higher today, with the Spanish Ibex Index rising 0.57 percent, STOXX Europe 600 Index rising 0.68 percent and German DAX 30 index climbed 0.37 percent. The UK's FTSE index was trading higher by 0.98 percent, while French CAC 40 Index climbed 0.84 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.37 percent, Hong Kong’s Hang Seng Index fell 0.38 percent, China’s Shanghai Composite Index gained 0.33 percent and India’s BSE Sensex rose 0.55 percent.

Broker Recommendation

Analysts at Canaccord Genuity upgraded Lululemon Athletica inc. LULU from Hold to Buy.

Lululemon shares rose 0.94 percent to $138.72 in pre-market trading.

Breaking News

Boeing Co BA reported upbeat earnings for its third quarter and raised its FY18 guidance.

General Dynamics Corporation GD reported stronger-than-expected earnings for its third quarter, while sales missed views

United Parcel Service, Inc. UPS reported in-line earnings for its third quarter, while sales missed estimates.

AT&T Inc. T reported downbeat earnings for its third quarter, while sales exceeded estimates.