Market Overview

A Peek Into The Markets: US Stock Futures Mixed Ahead Of Economic Reports

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A Peek Into The Markets: US Stock Futures Mixed Ahead Of Economic Reports

Pre-open movers

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

Data on initial jobless claims for the latest week and the Philadelphia Fed's manufacturing index for March will be released at 8:30 a.m. ET. The index of leading economic indicators for February will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 30 points to 25,898, while the Standard & Poor’s 500 index futures fell 1 point to 2,826.00. Futures for the Nasdaq 100 index rose 8.5 points to 7,418.00.

Oil prices traded lower as Brent crude futures fell 0.4 percent to trade at $68.22 per barrel, while US WTI crude futures fell 0.6 percent to trade at $59.88 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 0.4 percent, STOXX Europe 600 Index dropping 0.2 percent and German DAX 30 index dropped 0.3 percent. The UK's FTSE index was trading higher by 0.5 percent, while French CAC 40 Index rose 0.1 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.2 percent, Hong Kong’s Hang Seng Index declined 0.85 percent, China’s Shanghai Composite Index rose 0.35 percent and India’s BSE Sensex rose 0.06 percent.

Broker Recommendation

Analysts at Raymond James upgraded Steelcase Inc. (NYSE: SCS) from Outperform to Strong Buy and raised the price target from $20 to $21.

Steelcase shares rose 3 percent to $15.56 in pre-market trading.

Breaking News

  • Lands' End, Inc. (NASDAQ: LE) reported upbeat results for its fourth quarter, but issued weak Q1 outlook.
  • Commercial Metals Company (NYSE: CMC) reported in-line earnings for its second quarter, while sales missed views.
  • Herman Miller, Inc. (NASDAQ: MLHR) reported better-than-expected earnings for its third quarter, while sales missed estimates. The company issued strong fourth-quarter adjusted earnings guidance.
  • Guess?, Inc. (NYSE: GES) reported weaker-than-expected earnings for its fourth quarter, while sales exceeded estimates. The company sees sales growth of 4-5 percent year-over-year.

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

 

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