A Peek Into The Markets: U.S. Stock Futures Tumble Ahead Of Federal Budget
U.S. stock futures traded lower in early pre-market trade. The Treasury budget report for August is schedule for release at 2:00 p.m. ET.
Futures for the Dow Jones Industrial Average tumbled 94 points to 18,152.00, while the Standard & Poor’s 500 index futures fell 12.75 points to 2,139.25. Futures for the Nasdaq 100 index declined 27.50 points to 4,736.50.
Oil prices traded lower as Brent crude futures fell 1.95 percent to trade at $47.38 per barrel, while US WTI crude futures also fell 2.38 percent to trade at $45.19 a barrel.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index falling 0.25 percent, STOXX Europe 600 Index gaining 0.17 percent and German DAX 30 index gaining 0.54 percent. The UK's FTSE index was trading higher by 0.15 percent, while French CAC 40 Index rose 0.21 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.34 percent, Hong Kong’s Hang Seng Index fell 0.32 percent, China’s Shanghai Composite Index gained 0.05 percent and India’s BSE Sensex dropped 1.54 percent.
Analysts at Macquarie downgraded Netflix, Inc. (NASDAQ: NFLX) from Neutral to Underperform.
Netflix shares fell 1.68 percent to $97.39 in pre-market trading.
- United Natural Foods, Inc. (NASDAQ: UNFI) reported better-than-expected earnings for its fourth quarter on Monday. To read the full news, click here.
- Tiffany & Co. (NYSE: TIF) named Mark Erceg as its next executive vice president and chief financial officer.
- Anadarko Petroleum Corporation (NYSE: APC) announced the acquisition of Freeport-McMoRan Inc (NYSE: FCX)’s deepwater Gulf of Mexico assets for $2 billion. The company also reported an offering of 35.25 million shares of common stock.
- Japan's Renesas Electronics announced plans to buy Intersil Corp (NASDAQ: ISIL) for $3.22 billion.
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