Market Overview

A Peek Into The Markets: U.S. Stock Futures Down Ahead Of International Trade, Factory Orders Data

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A Peek Into The Markets: U.S. Stock Futures Down Ahead Of International Trade, Factory Orders Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on international trade for February will be released at 8:30 a.m. ET, while data on factory orders for February will be released at 10:00 a.m. ET. Federal Reserve Governor Daniel Tarullo is set to speak in Princeton, N.J. at 4:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 35 points to 20,555.00, while the Standard & Poor’s 500 index futures fell 5 points to 2,351.25. Futures for the Nasdaq 100 index declined 13 points to 5,421.50.

Oil prices traded higher as Brent crude futures rose 0.51 percent to trade at $53.39 per barrel, while US WTI crude futures rose 0.54 percent to trade at $50.51 a barrel.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index falling 0.17 percent, STOXX Europe 600 Index gaining 0.04 percent and German DAX 30 index dropping 0.03 percent. The UK's FTSE index was trading higher by 0.43 percent, while French CAC 40 Index rose 0.01 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.91 percent, Hong Kong’s Hang Seng Index climbed 0.62 percent, China’s Shanghai Composite Index rose 0.38 percent and India’s BSE Sensex rose 0.98 percent.

Broker Recommendation

Analysts at BMO Capital downgraded Alphabet Inc (NASDAQ: GOOGL) from Outperform to Market Perform and lowered the price target from $1,005 to $880.00.

Alphabet shares fell 0.87 percent to $849.30 in pre-market trading.

Breaking news

  • Conn's Inc (NASDAQ: CONN) reported better-than-expected earnings for its fourth quarter on Tuesday.
  • Acadia Healthcare Company Inc (NASDAQ: ACHC) will replace Joy Global Inc. (NYSE: JOY) in the S&P MidCap 400 on April 6.
  • Aviragen Therapeutics Inc (NASDAQ: AVIR) disclosed that it is exploring strategic alternatives for the company.
  • Kate Spade & Co (NYSE: KATE) will spend more time negotiating a sale after receiving an offer from Coach Inc (NYSE: COH), according to Reuters.

Posted-In: A Peek Into The MarketsEarnings News Eurozone Futures Global Pre-Market Outlook Markets

 

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