Market Overview

A Peek Into The Markets: US Stock Futures Down, Morgan Stanley Earnings Miss In Focus

A Peek Into The Markets: US Stock Futures Down, Morgan Stanley Earnings Miss In Focus

Pre-open movers

U.S. stock futures traded lower in early pre-market trade.

Morgan Stanley (NYSE: MS) falls after a top- and bottom-line Q4 earnings miss. Data on housing starts for December, the Philly Fed's manufacturing index for January and initial jobless claims for the latest week will be released at 8:30 a.m. ET. Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles is set to speak in New York, NY at 10:45 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 49 points to 24,102, while the Standard & Poor’s 500 index futures fell 7 points to 2,606.25. Futures for the Nasdaq 100 index declined 24 points to 6,642.25.

Oil prices traded lower as Brent crude futures fell 0.85 percent to trade at $60.80 per barrel, while US WTI crude futures dropped 1.01 percent to trade at $51.78 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.01 percent, STOXX Europe 600 Index dropping 0.18 percent and German DAX 30 index declined 0.34 percent. The UK's FTSE index was trading lower by 0.38 percent, while French CAC 40 Index fell 0.38 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.2 percent, Hong Kong’s Hang Seng Index dropped 0.56 percent, China’s Shanghai Composite Index fell 0.42 percent and India’s BSE Sensex rose 0.15 percent.

Broker Recommendation

Analysts at Citigroup upgraded Amicus Therapeutics, Inc. (NASDAQ: FOLD) from Neutral to Buy.

Amicus Therapeutics shares rose 3.5 percent to $12.59 in pre-market trading.

Breaking News

  • BB&T Corporation (NYSE: BBT) reported stronger-than-expected earnings for its fourth quarter.
  • PPG Industries, Inc. (NYSE: PPG) reported upbeat earnings for its fourth quarter, while sales missed views.
  • Commerce Bancshares, Inc. (NASDAQ: CBSH) reported better-than-expected earnings for its fourth quarter.
  • CSX Corporation (NASDAQ: CSX) reported upbeat results for its fourth quarter. The company also announced a $5 billion buyback plan.

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


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