A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 105 points to 27,526 while the Standard & Poor’s 500 index futures traded fell 10.4 points to 3,080.25. Futures for the Nasdaq 100 index fell 33.5 points to 8,223.75.

Oil prices traded lower as Brent crude futures fell 1.1% to trade at $61.81 per barrel, while US WTI crude futures fell 1.4% to trade at $56.47 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.5%, STOXX Europe 600 Index falling 0.4% and German DAX 30 index dropping 0.5%. The UK's FTSE index was trading lower by 1.1%, while French CAC 40 Index fell 0.1%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.26%, Hong Kong’s Hang Seng Index dropped 2.62%, China’s Shanghai Composite Index fell 1.83% and India’s BSE Sensex rose 0.1%.

Broker Recommendation

Analysts at Oppenheimer downgraded Expedia Group, Inc. (NASDAQ: EXPE) from Outperform to Perform and lowered the price target from $160 to $110.

Expedia shares fell 0.1% to $101.20 in pre-market trading.

Breaking News

• Foamix Pharmaceuticals Ltd (NASDAQ: FOMX) and Menlo Therapeutics Inc. (NASDAQ: MNLO) reported a merger agreement to create a combined biopharmaceutical company.
• Qurate Retail, Inc. (NASDAQ: QRTEA) reported upbeat earnings for its third quarter, while sales missed views.
• SunPower Corporation (NASDAQ: SPWR) announced plans to split into two independent publicly-traded companies.
• Amicus Therapeutics, Inc. (NASDAQ: FOLD) reported upbeat earnings for its third quarter and raised the lower end of its Galafold revenue guidance.