Market Overview

US Stock Futures Drop Ahead Of Earnings, Economic Data

US Stock Futures Drop Ahead Of Earnings, Economic Data

Pre-open movers

US stock futures traded lower in early pre-market trade. Data on GDP growth for the third quarter and weekly jobless claims will be released at 8:30 a.m. ET. The pending home sales index for September will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dipped 80 points to 17,622.0, while the Standard & Poor's 500 index futures fell 9.75 points to 2,074.75. Futures for the Nasdaq 100 index slipped 29 points to 4,644.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.74 percent, STOXX Europe 600 Index declining 0.40 percent and German DAX 30 index dropping 0.31 percent. French CAC 40 Index slipped 0.79 percent and London's FTSE 100 Index fell 1.10 percent.

In Asian markets, Japan's Nikkei Stock Average rose 0.17 percent, Hong Kong's Hang Seng Index declined 0.60 percent, China's Shanghai Composite Index surged 0.36 percent and India's BSE Sensex declined 0.75 percent.

Broker Recommendation
Analysts at Barclays downgraded Ralph Lauren Corp (NYSE: RL) from Overweight to Equal-weight and lowered the price target from $150.00 to $130.00.

Ralph Lauren shares rose 0.22 percent to close at $112.43 yesterday.

Breaking news

  • ConocoPhillips (NYSE: COP) reported a loss for the third quarter on Thursday. To read the full news, click here.
  • Ultragenyx Pharmaceutical Inc (NASDAQ: RARE) and Arcturus Therapeutics, Inc., a leading RNA medicines company, today announced that they have entered into a research collaboration and license agreement to discover and develop messenger RNA (mRNA) therapeutics to certain rare disease targets using Arcturus' UNA Oligomerâ„¢ chemistry and LUNARâ„¢ nanoparticle delivery platform. To read the full news, click here.
  • Nokia Corporation (ADR) (NYSE: NOK) today announced a planned EUR 7 billion program to optimize Nokia's capital structure and return excess capital to shareholders. To read the full news, click here.
  • McDermott International (NYSE: MDR) today announced it has received regulatory approval for its McDermott Marine Construction Ghana Limited (MMCGL) joint venture to pursue key offshore opportunities in Ghana. To read the full news, click here.

Posted-In: BarclaysEarnings News Eurozone Futures Global Pre-Market Outlook Markets


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