A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Chicago Fed National Activity Index for April is schedule for release at 8:30 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Amelia Island, FL. at 8:50 a.m. ET, while Philadelphia Federal Reserve Bank President Patrick Harker will speak in Boston, Massachusetts at 9:30 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak n New York at 1:00 p.m. ET, while Federal Reserve Board of Governors Vice Chairman Richard Clarida will speak in New York at 1:00 p.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Amelia Island, FL at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 135 points to 25,645, while the Standard & Poor’s 500 index futures fell 16.75 points to 2,845.25. Futures for the Nasdaq 100 index fell 81.25 points to 7,430.25.

Oil prices traded mixed as Brent crude futures rose 0.5 percent to trade at $72.58 per barrel, while US WTI crude futures fell 0.1 percent to trade at $62.94 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.7 percent, STOXX Europe 600 Index declined 0.9 percent and German DAX 30 index dropped 1.2 percent. The UK's FTSE index was trading lower by 0.9 percent, while French CAC 40 Index dropped 1.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.24 percent, Hong Kong’s Hang Seng Index dropped 0.57 percent, China’s Shanghai Composite Index fell 0.41 percent and India’s BSE Sensex climbed 3.75 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded Target Corporation TGT from Underweight to Equal-Weight and announced a $67 price target.

Target shares rose 0.2 percent to close at $71.05 on Friday.

Breaking News

• International Game Technology PLC IGT reported weaker-than-expected results for its first quarter on Monday.
• AZZ Inc AZZ reported downbeat results for its fourth quarter.
• Speedway Motorsports, Inc. TRK reported a non-binding offer from Sonic Financial at $18 per share in cash.
• Helen of Troy Limited HELE reported a $400 million buyback plan.