Market Overview

A Peek Into The Markets: U.S. Stock Futures Mostly Lower Ahead Of Fed Speakers

A Peek Into The Markets: U.S. Stock Futures Mostly Lower Ahead Of Fed Speakers

Pre-open movers

U.S. stock futures traded mostly lower in early pre-market trade. The pending home sales index for February will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Frankfurt, Germany at 9:20 a.m. ET, while Boston Federal Reserve Bank President Eric Rosengren will speak in Boston at 11:30 a.m. ET. San Francisco Federal Reserve Bank President John Williams is set to speak in New York at 1:15 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 15 points to 20,610.00, while the Standard & Poor’s 500 index futures fell 0.75 points to 2,350.75. Futures for the Nasdaq 100 index rose 1.75 points to 5,406.75.

Oil prices traded higher as Brent crude futures gained 0.55 percent to trade at $51.61 per barrel, while US WTI crude futures rose 0.48 percent to trade at $48.60 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 mostly lower today, with the Spanish Ibex Index falling 0.06 percent, STOXX Europe 600 Index declining 0.38 percent and German DAX 30 index gaining 0.32 percent. The UK's FTSE index was trading lower by 0.34 percent, while French CAC 40 Index gained 0.08 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.08 percent, Hong Kong’s Hang Seng Index gained 0.19 percent, China’s Shanghai Composite Index fell 0.36 percent and India’s BSE Sensex rose 0.41 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Dunkin Brands Group Inc (NASDAQ: DNKN) from Neutral to Sell and lowered the price target from $48.00 to $47.00.

Dunkin Brands shares rose 0.81 percent to close at $56.11 on Tuesday.

Breaking news

  • Exar Corporation (NYSE: EXAR) agreed to be acquired by MaxLinear, Inc. (NYSE: MXL) for $13 per share in cash.
  • Oracle Corporation (NASDAQ: ORCL) has hired advisers to investigate a possible acquisition of Accenture Plc (NYSE: ACN), according to sources as reported by the UK Register. The process is at an early stage, a source said.
  • Verint Systems Inc. (NASDAQ: VRNT) posted stronger-than-expected earnings for its fourth quarter.
  • Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) reported better-than-expected earnings for its fourth quarter, but issued cautious outlook for 2017.

Posted-In: Earnings M&A News Eurozone Futures Global Pre-Market Outlook Markets


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