Market Overview

A Peek Into The Markets: US Stock Futures Down, Crude Oil Rises Over 1%

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A Peek Into The Markets: US Stock Futures Down, Crude Oil Rises Over 1%

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on U.S. international trade in goods for December, factory orders for December and wholesale inventories for December will be released at 8:30 a.m. ET. The pending home sales index for January is schedule for release at 10:00 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 60 points to 25,977, while the Standard & Poor’s 500 index futures fell 5.25 points to 2,786.25. Futures for the Nasdaq 100 index dipped 11.5 points to 7,106.25.

Oil prices traded higher as Brent crude futures rose 1.6 percent to trade at $66.23 per barrel, while US WTI crude futures rose 1.96 percent to trade at $56.59a barrel. The Energy Information Administration’s weekly report on petroleum inventories 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 0.4 percent, STOXX Europe 600 Index dropping 0.5 percent and German DAX 30 index declined 0.6 percent. The UK's FTSE index was trading lower by 0.8 percent, while French CAC 40 Index slipped 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.5 percent, Hong Kong’s Hang Seng Index dropped 0.05 percent, China’s Shanghai Composite Index gained 0.42 percent and India’s BSE Sensex fell 0.19 percent.

Broker Recommendation

Analysts at Telsey Advisory Group downgraded Home Depot Inc (NYSE: HD) from Outperform to Market Perform.

Home Depot shares fell 0.4 percent to $187.50 in pre-market trading.

Breaking News

  • Best Buy Co Inc (NYSE: BBY) reported stronger-than-expected results for its fourth quarter.
  • Steven Madden, Ltd. (NASDAQ: SHOO) reported upbeat earnings for its fourth quarter.
  • Palo Alto Networks Inc (NYSE: PANW) reported stronger-than-expected results for its second quarter.
  • Weight Watchers International, Inc (NASDAQ: WTW) reported upbeat earnings for its fourth quarter, while sales missed estimates. The company issued weak full-year 2019 guidance.

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

 

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