A Peek Into The Markets: U.S. Stock Futures Edge Lower; General Electric Profit Tops Views

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 20 points to 21,561.00, while the Standard & Poor’s 500 index futures fell 0.25 points to 2,471.00. Futures for the Nasdaq 100 index declined 7.75 points to 5,917.50.

Oil prices traded lower as Brent crude futures fell 0.81 percent to trade at $48.90 per barrel, while US WTI crude futures dropped 0.96 percent to trade at $46.47 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.78 percent, STOXX Europe 600 Index declining 0.39 percent and German DAX 30 index dropping 0.80 percent. The UK's FTSE index was trading lower by 0.04 percent, while French CAC 40 Index slipped 0.65 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.22 percent, Hong Kong’s Hang Seng Index declined 0.13 percent, China’s Shanghai Composite Index dropped 0.21 percent and India’s BSE Sensex rose 0.39 percent.

Broker Recommendation

Analysts at Berenberg downgraded Wells Fargo & Co WFC from Hold to Sell.

Wells Fargo shares fell 0.13 percent to close at $54.88 on Thursday.

Breaking news

• General Electric Company GE reported better-than-expected profit for its second quarter.



• Honeywell International Inc. HON reported upbeat earnings for its second quarter and raised its FY guidance.



• Schlumberger Limited. SLB posted stronger-than-expected profit for its second quarter.



• Microsoft Corporation MSFT reported better-than-expected profit for its second quarter on Thursday.