Market Overview

A Peek Into The Markets: US Stock Futures Down; Crude Oil Falls Over 1%

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A Peek Into The Markets: US Stock Futures Down; Crude Oil Falls Over 1%

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. New home sales report for August and the State Street Investor Confidence Index for September will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Lake Forest, Illinois at 8:00 a.m. ET, while Kansas City Federal Reserve Bank President Esther George will speak in Washington, D.C. at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas, Texas at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 41 points to 26,777 while the Standard & Poor’s 500 index futures traded fell 5.7 points to 2,964.50. Futures for the Nasdaq 100 index declined 25.25 points to 7,710.00.

Oil prices traded lower as Brent crude futures fell 1.5% to trade at $61.22 per barrel, while US WTI crude futures fell 1.4% to trade at $56.51 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1%, STOXX Europe 600 Index dropped 1.4% and German DAX 30 index dropped 1.2%. The UK's FTSE index was trading lower by 0.92%, while French CAC 40 Index fell 1.5%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.36%, Hong Kong’s Hang Seng Index fell 1.28%, China’s Shanghai Composite Index declined 1% and India’s BSE Sensex fell 1.29%.

Broker Recommendation

Analysts at Raymond James upgraded Toll Brothers, Inc. (NYSE: TOL) from Market Perform to Outperform and announced a $45 price target.

Toll Brothers shares rose 0.6% to $39.94 in pre-market trading.

Breaking News

  • Nike Inc (NYSE: NKE) reported stronger-than-expected results for its first quarter on Tuesday.
  • The Medicines Company (NASDAQ: MDCO) disclosed that ORION-9 Phase 3 study of inclisiran in heterozygous familial hypercholesterolemia patients met primary and all secondary efficacy endpoints.
  • SYNNEX Corporation (NYSE: SNX) reported better-than-expected Q3 results.
  • Cintas Corporation (NASDAQ: CTAS) reported better-than-expected results for its first quarter.

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

 

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