Market Overview

A Peek Into The Markets: US Stock Futures Down; Crude Oil Falls 2%

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A Peek Into The Markets: US Stock Futures Down; Crude Oil Falls 2%

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 80 points to 26,695 while the Standard & Poor’s 500 index futures traded fell 9.8 points to 2,961.00. Futures for the Nasdaq 100 index declined 32.25 points to 7,826.75.

Oil prices traded lower as Brent crude futures fell 2% to trade at $59.29 per barrel, while US WTI crude futures fell 2.1% to trade at $53.55 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.6%, STOXX Europe 600 Index declining 0.9% and German DAX 30 index dropping 0.6%. The UK's FTSE index was trading lower by 0.5%, while French CAC 40 Index fell 0.7%.

In Asian markets, Japan’s Nikkei Stock Average rose 1.15%, Hong Kong’s Hang Seng Index rose 0.81%, China’s Shanghai Composite Index rose 1.15% and India’s BSE Sensex rose 0.23%.

Broker Recommendation

Analysts at Stephens & Co. downgraded Delta Air Lines, Inc. (NYSE: DAL) from Overweight to Equal-Weight and lowered the price target from $75 to $57.

Delta Air shares fell 1.1% to $52.35 in pre-market trading.

Breaking News

  • Aytu BioScience, Inc. (NASDAQ: AYTU) reported a $10 million private placement from Altium Capital and Armistice Capital.
  • Owens Corning (NYSE: OC) disclosed that its CFO Michael McMurray will be stepping down to purse a different opportunity.
  • Sempra Energy (NYSE: SRE) agreed to sell its Chilean business for $2.23 billion in cash to State Grid International Development.
  • AECOM (NYSE: ACM) agreed to sell its Management Services business for $2.41 billion to American Securities LLC and Lindsay Goldberg.

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

 

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