A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of ADP Report

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The ADP national employment report for September is schedule for release at 8:15 a.m. ET, while international trade report for August will be released at 8:30 a.m. ET. US Services Purchasing Managers' Index for September is schedule for release at 9:45 a.m. ET, while factory orders data for August and the ISM non-manufacturing index for September will be released at 10:00 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Indian Country conference in Minneapolis at 9:30 a.m. ET, while Richmond Federal Reserve Bank President Jeffrey Lacker is set to speak in Huntington, West Virginia at 1:00 p.m. ET. Richmond Fed President Jeffrey M. Lacker will then speak at Marshall University in Huntington, West Virginia at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average declined 15 points to 18,075.00, while the Standard & Poor’s 500 index futures slipped 0.75 points to 2,144.00. Futures for the Nasdaq 100 index fell 0.50 points to 4,857.00.

Oil prices traded higher as Brent crude futures gained 1.81 percent to trade at $51.79 per barrel, while US WTI crude futures also rose 1.68 percent to trade at $49.51 a barrel. The Energy Information Administration’s weekly report on petroleum inventories will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.71 percent, STOXX Europe 600 Index declining 0.96 percent and German DAX 30 index dropping 0.69 percent. The UK's FTSE index was trading lower by 0.55 percent, while French CAC 40 Index fell 0.68 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.50 percent, Hong Kong’s Hang Seng Index gained 0.42 percent, China’s Shanghai Composite Index gained 0.21 percent and India’s BSE Sensex fell 0.40 percent.

Broker Recommendation

Analysts at RBC Capital upgraded UBS Group AG (USA) UBS from Underperform to Sector Perform.

UBS shares rose 0.65 percent to $13.92 in pre-market trading.

Breaking news

• Global Payments Inc GPN delivered better than expected earnings for the first quarter. The company also boosted its EPS forecast for the fiscal year 2017. To read the full news, click here.



• NN Group NV offered to buy Delta Lloyd NV for around $2.7 billion.



• RPM International Inc. RPM reported Q1 earnings of $0.83 per share on sales of $1.25 billion.



• Micron Technology, Inc. MU posted a narrower-than-expected loss for its fourth quarter and issued a strong forecast for the current quarter.