Market Overview

A Peek Into The Markets: U.S. Stock Futures Tumble As Trump Wins 2016 Presidential Election

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A Peek Into The Markets: U.S. Stock Futures Tumble As Trump Wins 2016 Presidential Election

 

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, as Republican Donald Trump scored a spectacular victory over Democratic Hillary Clinton. Data on wholesale inventories for September will be released at 8:30 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Eau Claire, Wi. at 1:30 p.m. ET, while San Francisco Federal Reserve Bank President John Williams will speak at the University of San Francisco at 9:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 372 points to 17,911.00, while the Standard & Poor’s 500 index futures tumbled 47 points to 2,087.75. Futures for the Nasdaq 100 index declined 127.25 points to 4,674.00.

Oil prices traded lower as Brent crude futures fell 0.04 percent to trade at $46.02 per barrel, while US WTI crude futures also fell 0.22 percent to trade at $44.88 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.


A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 2.49 percent, STOXX Europe 600 Index falling 0.98 percent and German DAX 30 index declining 1.54 percent. The UK's FTSE index was trading lower by 0.67 percent, while French CAC 40 Index slipped 1.56 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 5.36 percent, Hong Kong’s Hang Seng Index dropped 2.16 percent, China’s Shanghai Composite Index fell 0.62 percent and India’s BSE Sensex fell 1.23 percent.


Broker Recommendation

Analysts at Mizuho downgraded UnitedHealth Group Inc (NYSE: UNH) from Buy to Neutral.

UnitedHealth shares fell 4.20 percent to $136.90 in pre-market trading.


Breaking news

  • DISH Network Corp (NASDAQ: DISH) delivered weaker-than-expected EPS for the third quarter, though revenue slightly exceeded estimates. To read the full news, click here.
  • Tripadvisor Inc (NASDAQ: TRIP) reported weaker-than-expected revenue for its third quarter on Tuesday. To read the full news, click here.
  • Viacom, Inc. (NASDAQ: VIAB) reported better-than-expected earnings for its fourth quarter, but revenue missed expectations. To read the full news, click here.
  • Jazz Pharmaceuticals plc (NASDAQ: JAZZ) reported downbeat results for its third quarter on Tuesday. To read the full news, click here.

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

 

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