Market Overview

A Peek Into The Markets: US Stock Futures Down; All Eyes On Jobs Data

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A Peek Into The Markets: US Stock Futures Down; All Eyes On Jobs Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on motor vehicle sales for July will be released today. Data on nonfarm payrolls and unemployment rate for July and international trade report for June will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for July and data on factory orders for June will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 34 points to 26,509 while the Standard & Poor’s 500 index futures fell 5.7 points to 2,946.25. Futures for the Nasdaq 100 index declined 33.25 points to 7,775.00.

Oil prices traded higher as Brent crude futures rose 2.6% to trade at $62.07 per barrel, while US WTI crude futures rose 2.3% to trade at $55.17 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.8%, STOXX Europe 600 Index declining 1.8% and German DAX 30 index dropping 2.3%. The UK's FTSE index was trading lower by 1.6%, while French CAC 40 Index fell 2.5%.

In Asian markets, Japan’s Nikkei Stock Average fell 2.11%, Hong Kong’s Hang Seng Index fell 2.35%, China’s Shanghai Composite Index dropped 1.41% and India’s BSE Sensex rose 0.27%.

Broker Recommendation

Analysts at Deutsche Bank upgraded Pinterest Inc (NYSE: PINS) from Hold to Buy and raised the price target from $26 to $40.

Pinterest shares rose 16.6 percent to $33.00 in pre-market trading.

Breaking News

  • Newell Co (NASDAQ: NWL) reported better-than-expected earnings for its second quarter and raised its FY19 sales guidance.
  • Restaurant Brands International Inc (NYSE: QSR) reported better-than-expected earnings for its second quarter.
  • Pinterest Inc (NYSE: PINS) reported stronger-than-expected results for its second quarter on Thursday.
  • United States Steel Corporation (NYSE: X) reported better-than-expected results for its second quarter.

 

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

 

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