A Peek Into The Markets: US Stock Futures Down; Dow Futures Tumble Over 200 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The final manufacturing PMI for August is schedule for release at 9:45 a.m. ET. Data on construction spending for July and the ISM manufacturing composite index for August will be released at 10:00 a.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in Easton, Massachusetts at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 208 points to 26,198 while the Standard & Poor’s 500 index futures fell 22.3 points to 2,902.50. Futures for the Nasdaq 100 index declined 69.5 points to 7,621.25.

Oil prices traded lower as Brent crude futures fell 1.5% to trade at $57.78 per barrel, while US WTI crude futures fell 2% to trade at $54.02 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.2%, STOXX Europe 600 Index falling 0.3% and German DAX 30 index dropping 0.4%. The UK's FTSE index was trading lower by 0.3%, while French CAC 40 Index slipped 0.4%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.02%, Hong Kong’s Hang Seng Index fell 0.39%, China’s Shanghai Composite Index rose 0.21% and India’s BSE Sensex fell 2.06%.

Broker Recommendation

Analysts at Bernstein upgraded PVH Corp PVH from Market Perform to Outperform.

PVH shares fell 0.2% to $75.62 in pre-market trading.

Breaking News

• Conn's Inc CONN reported better-than-expected Q2 earnings.
• The Medicines Company MDCO shares climbed over 19% in pre-market trading after the company presented results from its ORION-11 trial at ESC Congress 2019. In the trial, inclisiran met all primary and secondary efficacy endpoints.
• MAM Software Group Inc. MAMS agreed to be acquired by Kerridge Commercial Systems for $12.12 per share in cash.
• Nine Energy Service Inc NINE disclosed that it has sold its Production Solutions business for $17 million in cash.