A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The S&P Corelogic Case-Shiller home price index for March and the Federal Housing Finance Agency house price index for March will be released at 9:00 a.m. ET. The Conference Board consumer confidence index for May and the Dallas Fed manufacturing index for May will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 13 points to 25,607, while the Standard & Poor’s 500 index futures fell 4.8 points to 2,827.00. Futures for the Nasdaq 100 index declined 3.75 points to 7,311.75.

Oil prices traded higher as Brent crude futures rose 0.3 percent to trade at $68.95 per barrel, while US WTI crude futures rose 0.8 percent to trade at $59.10 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.6 percent, STOXX Europe 600 Index declined 0.3 percent and German DAX 30 index dropped 0.3 percent. The UK's FTSE index was trading higher by 0.1 percent, while French CAC 40 Index fell 0.4 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.37 percent, Hong Kong’s Hang Seng Index climbed 0.38 percent, China’s Shanghai Composite Index rose 0.61 percent and India’s BSE Sensex surged 0.17 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Gilead Sciences, Inc GILD from Neutral to Sell and lowered the price target from $70 to $60 price target.

Gilead Sciences shares fell 2.1 percent to $65.50 in pre-market trading.

Breaking News

• Booz Allen Hamilton Holding Corporation BAH reported better-than-expected earnings for its fourth quarter.
• Transenterix Inc TRXC reported Japanese regulatory approval of Senhance Surgical System.
• American Woodmark Corporation AMWD reported downbeat earnings for its fourth quarter.
• Fiat Chrysler Automobiles NV FCAU submitted a merger proposal to Renault.