Market Overview

A Peek Into The Markets: US Stock Futures Edge Lower; Alphabet Earnings In Focus

Share:
A Peek Into The Markets: US Stock Futures Edge Lower; Alphabet Earnings In Focus

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. Alphabet Inc. (NASDAQ: GOOG) will release earnings after the closing bell. Data on personal income and consumer spending for February will be released at 8:30 a.m. ET, while the Dallas Fed manufacturing index for April is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 18 points to 26,499, while the Standard & Poor’s 500 index futures fell 2.75 points to 2,938.75. Futures for the Nasdaq 100 index declined 8 points to 7,832.25.

Oil prices traded lower as Brent crude futures fell 0.6 percent to trade at $71.73 per barrel, while US WTI crude futures dropped 0.3 percent to trade at $63.10 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.9 percent, STOXX Europe 600 Index declining 0.3 percent and German DAX 30 index dropped 0.3 percent. The UK's FTSE index was trading lower by 0.1 percent, while French CAC 40 Index fell 0.3 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.22 percent, Hong Kong’s Hang Seng Index gained 0.97 percent, China’s Shanghai Composite Index fell 0.77 percent and India’s BSE Sensex rose 0.87 percent.

Broker Recommendation

Analysts at Jefferies downgraded Occidental Petroleum Corporation (NYSE: OXY) from Buy to Hold and lowered the price target from $74 to $66.

Occidental Petroleum shares fell 2.1 percent to $60.05 in pre-market trading.

Breaking News

  • Cooper Tire & Rubber Co (NYSE: CTB) reported weaker-than-expected earnings for its first quarter, while sales exceeded estimates.
  • Parker-Hannifin Corp (NYSE: PH) announced plans to buy Lord Corp. for $3.68 billion in cash.
  • Restaurant Brands International Inc (NYSE: QSR) reported weaker-than-expected earnings for its first quarter.
  • Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) disclosed that Zynquista was approved in the European Union for the treatment of adults with Type 1 diabetes.

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

 

Related Articles (GOOG + CTB)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

22 Stocks Moving In Monday's Pre-Market Session

48 Biggest Movers From Friday