Market Overview

A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

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A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

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

The Challenger job-cut report for February is schedule for release at 7:30 a.m. ET. Data on initial jobless claims for the latest week and nonfarm productivity for the fourth quarter will be released at 8:30 a.m. ET. Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in Princeton, NJ at 12:15 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 83 points to 25,583, while the Standard & Poor’s 500 index futures fell 6.5 points to 2,765.00. Futures for the Nasdaq 100 index declined 18 points to 7,093.25.

Oil prices traded higher as Brent crude futures rose 1.3 percent to trade at $66.85 per barrel, while US WTI crude futures rose 1.1 percent to trade at $56.83 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 mostly lower today, with the Spanish Ibex Index rising 0.1 percent, STOXX Europe 600 Index dropping 0.5 percent and German DAX 30 index declined 0.5 percent. The UK's FTSE index was trading lower by 0.5 percent, while French CAC 40 Index slipped 0.4 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.65 percent, Hong Kong’s Hang Seng Index dropped 0.89 percent, China’s Shanghai Composite Index surged 0.14 percent and India’s BSE Sensex rose 0.24 percent.

Broker Recommendation

Analysts at JP Morgan upgraded Abercrombie & Fitch Co. (NYSE: ANF) from Underweight to Neutral and raised the price target from $19 to $27.

Abercrombie & Fitch shares rose 0.2 percent to $25.75 in pre-market trading.

Breaking News

  • Burlington Stores Inc (NYSE: BURL) reported better-than-expected earnings for its fourth quarter, while sales missed estimates.
  • American Eagle Outfitters (NYSE: AEO) reported upbeat earnings for its fourth quarter, while sales missed estimates. The company issued weak first-quarter earnings guidance.
  • Tech Data Corp (NASDAQ: TEXD) reported better-than-expected Q4 earnings, while sales missed views.
  • Health Insurance Innovations Inc (NASDAQ: HIIQ) reported better-than-expected earnings for its fourth quarter and issued strong 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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