Pre-open movers
U.S. stock futures traded mixed in early pre-market trade. Gross Domestic Product report for the first quarter is schedule for release at 8:30 a.m. ET, while the University of Michigan's consumer sentiment index for April will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 27 points to 26,413, while the Standard & Poor’s 500 index futures fell 1.3 points to 2,925.00. Futures for the Nasdaq 100 index rose 10.75 points to 7,809.25.
Oil prices traded lower as Brent crude futures fell 1.6 percent to trade at $73.17 per barrel, while US WTI crude futures dropped 1.5 percent to trade at $64.21 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index falling 0.1 percent, STOXX Europe 600 Index rising 0.1 percent and German DAX 30 index gained 0.1 percent. The UK's FTSE index was trading lower by 0.2 percent, while French CAC 40 Index rose 0.1 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.22 percent, Hong Kong’s Hang Seng Index gained 0.19 percent, China’s Shanghai Composite Index fell 1.2 percent and India’s BSE Sensex rose 0.87 percent.
Broker Recommendation
Analysts at KeyBanc downgraded Qorvo Inc QRVO from Overweight to Sector Weight.
Qorvo shares fell 2.3 percent to $75.55 in pre-market trading.
Breaking News
Zimmer Biomet Holdings Inc ZBH reported better-than-expected results for its first quarter.
Lear Corporation LEA announced downbeat earnings for its first quarter.
Ford Motor Company F reported stronger-than-expected earnings for its first quarter.
Amazon.com, Inc. AMZN reported better-than-expected earnings for its first quarter.
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