Market Overview

A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

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A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Labor Department's JOLTS report for April will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 56 points to 21,124.00, while the Standard & Poor’s 500 index futures fell 6.50 points to 2,428.00. Futures for the Nasdaq 100 index slipped 11 points to 5,870.25.

Oil prices traded lower as Brent crude futures fell 0.34 percent to trade at $49.30 per barrel, while US WTI crude futures fell 0.34 percent to trade at $47.24 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.41 percent, STOXX Europe 600 Index dropping 0.47 percent and German DAX 30 index dropping 0.71 percent. The UK's FTSE index was trading lower by 0.19 percent, while French CAC 40 Index fell 0.52 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.95 percent, Hong Kong’s Hang Seng Index climbed 0.52 percent, China’s Shanghai Composite Index rose 0.34 percent and India’s BSE Sensex fell 0.38 percent.

Broker Recommendation

Analysts at Societe Generale downgraded Cognizant Technology Solutions Corp (NASDAQ: CTSH) from Buy to Hold.

Cognizant shares rose 0.13 percent to close at $67.56 on Monday.

Breaking news

  • Verizon Communications Inc. (NYSE: VZ) is considering a potential $100 million investment in Pandora Media Inc (NYSE: P), according to sources as reported by the New York Post. That offer is said to come if Pandora doesn't reach a deal to sell itself to SiriusXM, the sources said.
  • Conn's Inc (NASDAQ: CONN) reported a narrower-than-expected loss for its first quarter, but sales missed estimates.
  • G-III Apparel Group, Ltd. (NASDAQ: GIII) reported a smaller-than-expected loss for its first quarter and raised its FY18 outlook.
  • Michaels Companies Inc (NASDAQ: MIK) posted downbeat results for its first quarter and issued a weak forecast.

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

 

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