Market Overview

A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of GDP Report, Fed Decision

A Peek Into The Markets: US Stock Futures Edge Lower Ahead Of GDP Report, Fed Decision

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The ADP national employment report for October is schedule for release at 8:15 a.m. ET, while Gross Domestic Product report for the third quarter will be released at 8:30 a.m. ET. The FOMC will announce its policy decision at 2:00 p.m. ET, while Fed Chairman Jerome Powell will hold press briefing at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 14 points to 27,028 while the Standard & Poor’s 500 index futures traded fell 1.2 points to 3,034.50. Futures for the Nasdaq 100 index declined 1.25 points to 8,054.00.

Oil prices traded mixed as Brent crude futures rose 0.1% to trade at $61.30 per barrel, while US WTI crude futures fell 0.1% to trade at $55.49 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.


A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 1%, STOXX Europe 600 Index dropping 0.1% and German DAX 30 index dropping 0.3%. The UK's FTSE index was trading lower by 0.2%, while French CAC 40 Index rose 0.1%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.57%, Hong Kong’s Hang Seng Index dropped 0.44%, China’s Shanghai Composite Index fell 0.5% and India’s BSE Sensex rose 0.5%.

Broker Recommendation

Analysts at Cowen & Co. downgraded Grubhub Inc. (NYSE: GRUB) from Outperform to Market Perform.

GrubHub shares fell 0.5% to $32.83 in pre-market trading.

Breaking News

  • L3Harris Technologies, Inc. (NYSE: LHX) reported upbeat earnings for its first quarter.
  • Mattel Inc (NASDAQ: MAT) reported better-than-expected earnings for its third quarter. The company also announced its CFO search.
  • Herbalife Nutrition Ltd (NYSE: HLF) reported upbeat earnings for its third quarter.
  • Advanced Micro Devices, Inc. (NASDAQ: AMD) reported in-line earnings for its third quarter, while sales missed views.

Related Articles (AMD + GRUB)

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

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