Market Overview

A Peek Into The Markets: US Stock Futures Tumble Ahead Of Producer Price Index

Share:
A Peek Into The Markets: US Stock Futures Tumble Ahead Of Producer Price Index

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Producer Price Index for September will be released at 8:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago, Illinois at 1:35 p.m. ET, while Federal Reserve Chairman Jerome Powell will speak in Denver, Colorado at 1:50 p.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in St. Cloud, Minnesota at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 214 points to 26,225 while the Standard & Poor’s 500 index futures traded fell 23.25 points to 2,914.25. Futures for the Nasdaq 100 index declined 62.75 points to 7,677.25.

Oil prices traded lower as Brent crude futures fell 0.4% to trade at $58.12 per barrel, while US WTI crude futures fell 0.6% to trade at $52.44 a barrel.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.3%, STOXX Europe 600 Index declining 0.9% and German DAX 30 index dropping 1.1%. The UK's FTSE index was trading lower by 0.4%, while French CAC 40 Index fell 0.9%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.99%, Hong Kong’s Hang Seng Index rose 0.28%, China’s Shanghai Composite Index rose 0.29% and India’s BSE Sensex fell 0.38%.

Broker Recommendation

Analysts at Jefferies downgraded Oracle Corporation (NYSE: ORCL) from Buy to Hold and lowered the price target from $66 to $60.

Oracle shares fell 1.2% to $54.13 in pre-market trading.

Breaking News

  • Helen of Troy Limited (NASDAQ: HELE) reported better-than-expected results for its second quarter and raised its 2020 forecast.
  • Evoqua Water Technologies Corp. (NYSE: AQUA) announced the acquisition of majority stake in Frontier Water.
  • NIO Inc. (NYSE: NIO) shares climbed around 9% in pre-market trading after the company reported Q3 vehicle sales up 35% from Q2..
  • Ambarella, Inc. (NASDAQ: AMBA) shares dropped around 11% in pre-market trading after its customer, Hangzhou Hikvision, was put on a blacklist by the Trump administration.

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

 

Related Articles (AMBA + AQUA)

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