Market Overview

A Peek Into The Markets: U.S. Stock Futures Mostly Lower Ahead Of Initial Jobless Claims Report

A Peek Into The Markets: U.S. Stock Futures Mostly Lower Ahead Of Initial Jobless Claims Report

Pre-open movers

U.S. stock futures traded mostly lower in early pre-market trade. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. The Producer Price Index for March is scheduled for release at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for April will be released at 10:00 a.m. ET. The Treasury will auction 30-year bonds at 1:00 p.m. ET. Data on money supply for the recent week will be released at 4:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 59.44 points to 20,591.86, while the Standard & Poor's 500 index futures fell 0.8.85 points to 2,344.93. Futures for the Nasdaq 100 index also declined 30.61 points to 5,836.16.

Oil prices traded higher as Brent crude futures gained 0.02 percent to trade at $55.84 per barrel, while US WTI crude futures rose 0.04 percent to trade at $53.48 a barrel. The Energy Information Administration's weekly report on natural gas stocks is scheduled 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 0.67 percent, STOXX Europe 600 Index declining 0.49 percent and German DAX 30 index dropping 0.34 percent. The UK's FTSE index was trading lower by 0.63 percent, while French CAC 40 Index declined 0.59 percent.

In Asian markets, Japan's Nikkei Stock Average fell 0.68 percent, Hong Kong's Hang Seng Index declined 0.21 percent, China's Shanghai Composite Index dropped 0.07 percent and India's BSE Sensex fell 0.61 percent.

Broker Recommendation

Analysts at SunTrust Robinson Humphrey upgraded Cognizant Technology Solutions Corp (NASDAQ: CTSH) from Hold to Buy.
Cognizant Technology shares declined 0.37 percent to close at $58.66 on Wednesday.

Breaking news

  • Bristol-Myers Squibb Co (NYSE: BMY) announced that it entered into licensing agreement for Anti-Myostatin, while also entering into a licensing agreement with Biogen Inc (NASDAQ: BIIB) for Anti-eTau.
  • JPMorgan Chase & Co. (NYSE: JPM) reported its earnings for the first quarter ahead of the consensus expectations at $1.65, with higher than expected sales of $25.59 billion.
  • Apogee Enterprises Inc (NASDAQ: APOG) reported higher than expected earnings for its fourth quarter at $0.80 per share, as well as better than anticipated sales of $314.1 million.
  • WABCO Holdings Inc. (NYSE: WBC) announced having won new business worth $1.2 billion over the past four quarters.

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