A Peek Into The Markets: US Stock Futures Mixed Ahead Of Economic Data, Fed Speakers

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade. The Chicago Fed National Activity Index for August is schedule for release at 8:30 a.m. ET, while the flash Composite Purchasing Managers' Index for September will be released at 9:45 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in New York at 9:50 a.m. ET, while St. Louis Federal Reserve Bank President James Bullard will speak in Effingham, Illinois at 1:00 p.m. ET. San Francisco Federal Reserve Bank President Mary Daly is set to speak in Salem, Oregon at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 25 points to 26,869 while the Standard & Poor’s 500 index futures traded flat at 2,989.50. Futures for the Nasdaq 100 index gained 10.25 points to 7,840.75.

Oil prices traded lower as Brent crude futures fell 0.3% to trade at $63.04 per barrel, while US WTI crude futures fell 0.5% to trade at $57.80 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index falling 0.9%, STOXX Europe 600 Index declining 0.9% and German DAX 30 index dropped 1.2%. The UK's FTSE index was trading lower by 0.6%, while French CAC 40 Index fell 1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.16%, Hong Kong’s Hang Seng Index fell 0.81%, China’s Shanghai Composite Index dropped 0.98% and India’s BSE Sensex jumped 2.83%.

Broker Recommendation

Analysts at Goldman Sachs downgraded Illinois Tool Works Inc. ITW from Neutral to Sell.

Illinois Tool Works shares fell 2% to $151.95 in pre-market trading.

Breaking News

• Caesars Entertainment Corporation CZR reported the sale of the Rio All-Suite Hotel & Casino to principal of Imperial Companies for $516.3 million.
• Bancorpsouth Bank BXS announced plans to acquire Texas First Bancshares for $13 million in cash and 1.065 million shares of stock.
• Sellas Life Sciences Group Inc SLS disclosed a $50 million mixed securities offering.
• Scorpio Bulkers Inc. SALT announced plans to sell two Ultramax Vessels for $37.9 million.