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

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for September and international trade for August will be released at 8:30 a.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in Boston, MA at 8:30 a.m. ET, while Atlanta Federal Reserve Bank President Raphael Bostic will speak in New Orleans, Louisiana at 10:25 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis, Minnesota at 12:45 p.m. ET, while Federal Reserve Chairman Jerome Powell is set to speak in Washington, D.C. at 2:00 p.m. ET. Federal Reserve Member of the Board of Governors Lael Brainard will speak in Washington, D.C. at 2:10 p.m. ET, while Federal Reserve Board Vice-Chairman for Supervision Randal Quarles is set to speak in Washington, D.C. at 4:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 96 points to 26,084 while the Standard & Poor’s 500 index futures traded fell 11.80 points to 2,900.00. Futures for the Nasdaq 100 index declined 29 points to 7,629.50.

Oil prices traded higher as Brent crude futures rose 0.6% to trade at $58.07 per barrel, while US WTI crude futures rose 0.1% to trade at $52.50 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 mostly higher today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index climbing 0.2% and German DAX 30 index rising 0.1%. The UK's FTSE index was trading lower by 0.5%, while French CAC 40 Index rose 0.3%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.32%, Hong Kong’s Hang Seng Index fell 1.11%, China’s Shanghai Composite Index fell 0.92% and India’s BSE Sensex fell 1.14%.

Broker Recommendation

Analysts at JP Morgan downgraded CSX Corporation CSX from Overweight to Neutral and lowered the price target from $83 to $76.

CSX shares fell 0.8% to $66.44 in pre-market trading.

Breaking News

• Hess Midstream Partners LP HESM reported it will buy all of Hess Corp's, Global Infrastructure Partners' ownership interests in Hess Infrastructure Partners.
• Costco Wholesale Corporation COST reported upbeat earnings for its fourth quarter, while sales missed views.
• Heron Therapeutics Inc HRTX reported a common stock offering with no size disclosed.
• Smart Global Holdings Inc SGH reported weaker-than-expected Q4 results and issued Q1 guidance below analyst estimates.