Market Overview

A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of CPI

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A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of CPI

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The Consumer Price Index for October will be released at 8:30 a.m. ET. Federal Reserve Vice Chairman for Supervision Randal Quarles is set to speak at 9:00 a.m. ET, while Federal Reserve Chairman Jerome Powell will speak in Dallas, TX, at 5:00 p.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak Dallas, TX at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 25 points to 25,305.00, while the Standard & Poor’s 500 index futures traded fell 3 points to 2,724.50. Futures for the Nasdaq 100 index declined 23.25 points to 6,830.00.

Oil prices traded higher as Brent crude futures rose 0.92 percent to trade at $66.07 per barrel, while US WTI crude futures rose 0.34 percent to trade at $55.88 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.38 percent, STOXX Europe 600 Index declining 0.48 percent and German DAX 30 index dropped 0.45 percent. The UK's FTSE index was trading higher by 0.08 percent, while French CAC 40 Index fell 0.52 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.16 percent, Hong Kong’s Hang Seng Index fell 0.54 percent, China’s Shanghai Composite Index declined 0.85 percent and India’s BSE Sensex slipped 0.01 percent.

Broker Recommendation

Analysts at JP Morgan downgraded Kellogg Company (NYSE: K) from Overweight to Neutral and lowered the price target from $73 to $66.

Kellogg shares fell 1.37 percent to close at $63.42 on Tuesday.

Breaking News

  • Meritor Inc (NYSE: MTOR) reported upbeat earnings for its fourth quarter.
  • NexPoint Residential Trust Inc (NYSE: NXRT) reported an offering of 2.25 million shares of common stock.
  • Switch Inc (NYSE: SWCH) reported weaker-than-expected earnings for its third quarter on Tuesday. The company reiterated FY18 sales guidance of $405-$408 million.
  • Blue Apron Holdings Inc (NYSE: APRN) reported a narrower-than-expected loss for its third quarter, while sales missed estimates. The company announced it will reduce its headcount by 4 percent.
 

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

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