A Peek Into The Markets: US Stock Futures Mixed After Goldman Sachs Earnings

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade. Goldman Sachs Group Inc GS reported mixed first quarter results. The Empire State manufacturing index for April is schedule for release at 8:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak at 8:30 a.m. ET and 12:00 p.m. ET.

Futures for the Dow Jones Industrial Average rose 16 points to 26,424, while the Standard & Poor’s 500 index futures declined 0.25 points to 2,912.25. Futures for the Nasdaq 100 index declined 3.5 points to 7,648.75.

Oil prices traded higher as Brent crude futures fell 0.9 percent to trade at $70.94 per barrel, while US WTI crude futures dropped 1 percent to trade at $63.26 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.2 percent, STOXX Europe 600 Index gaining 0.1 percent and German DAX 30 index gained 0.1 percent. The UK's FTSE index was trading lower by 0.1 percent, while French CAC 40 Index rose 0.1 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.37 percent, Hong Kong’s Hang Seng Index declined 0.33 percent, China’s Shanghai Composite Index fell 0.34 percent and India’s BSE Sensex rose 0.36 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Wells Fargo & Co WFC from Buy to Neutral.

Wells Fargo shares fell 1.7 percent to $45.70 in pre-market trading.

Breaking News

• Advanced Disposal Services Inc ADSW agreed to be acquired by Waste Management, Inc. WM for $33.15 per share in cash for a total value of $4.9 billion.
• Fibrocell Science Inc FCSC disclosed an agreement with Castle Creek Pharmaceuticals to develop and commercialize FCX-007. Fibrocell will receive a $30M upfront payment..
• Aphria Inc APHA reported worse-than-expected Q3 EPS and revenue results.
• Electronics For Imaging, Inc. EFII agreed to be acquired by an affiliate of Siris Capital Group, LLC in all-cash transaction valued at approximately $1.7 billion.