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A Peek Into The Markets: US Stock Futures Down Ahead Of International Trade, Current Account Data

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A Peek Into The Markets: US Stock Futures Down Ahead Of International Trade, Current Account Data

Pre-open movers

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

Data on international trade for January and the current account report for the fourth quarter will be released at 8:30 a.m. ET. Data on retail and wholesale inventories for February will be released at 8:30 a.m. ET. Kansas City Federal Reserve Bank President Esther George is set to speak in New York at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 63 points to 25,613.00, while the Standard & Poor’s 500 index futures fell 4.25 points to 2,818.75. Futures for the Nasdaq 100 index fell 2 points to 7,374.75.

Oil prices traded lower as Brent crude futures fell 0.1 percent to trade at $67.92 per barrel, while US WTI crude futures fell 0.6 percent to trade at $59.60 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index falling 0.2 percent, STOXX Europe 600 Index declining 0.4 percent and German DAX 30 index dropped 0.3 percent. The UK's FTSE index was trading lower by 0.4 percent, while French CAC 40 Index fell 0.4 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.23 percent, Hong Kong’s Hang Seng Index climbed 0.56 percent, China’s Shanghai Composite Index rose 0.85 percent and India’s BSE Sensex fell 0.26 percent.

Broker Recommendation

Analysts at Canaccord Genuity downgraded Cronos Group Inc (NASDAQ: CRON) from Hold to Sell and announced a $17 price target.

Cronos shares fell 3.7 percent to $19.49 in pre-market trading.

Breaking News

  • Secureworks Corp (NASDAQ: SCWX) reported upbeat earnings for its first quarter, while sales missed views.
  • KB Home (NYSE: KBH) reported upbeat earnings for its first quarter, while sales missed estimates. Deliveries totaled 2,152 homes, while average selling price decreased 5 percent to $370,900.
  • Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) reported upbeat earnings for its fourth quarter, while sales missed estimates. The company issued weak annual forecast and reported a $100 million buyback plan.
  • Shoe Carnival, Inc. (NASDAQ: SCVL) reported stronger-than-expected results for its fourth quarter.

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

 

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