Skip to main content

Market Overview

A Peek Into The Markets: US Stock Futures Down; WTI Crude Oil Rises Over 10%

A Peek Into The Markets: US Stock Futures Down; WTI Crude Oil Rises Over 10%

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The European Central Bank announced a €750 billion ($820 billion) stimulus package. Data on initial jobless claims for the latest week, the Philadelphia Fed manufacturing index for March and the current account report for the fourth quarter will be released at 8:30 a.m. ET. The index of leading economic indicators for February is scheduled for release at 10:00 a.m. ET.

Total coronavirus cases in the US exceeded 9,400 with around 150 deaths. Iran confirmed a total of over 17,000 cases, while Italy reported a total of at least 35,000 confirmed cases and 2,900 deaths.

Futures for the Dow Jones Industrial Average dropped 426 points to 19,427 while the Standard & Poor’s 500 index futures traded fell 49.15 points to 2,352.25. Futures for the Nasdaq 100 index declined 79.5 points to 7,126.00.

Oil prices traded higher as Brent crude futures rose 5.5% to trade at $26.24 per barrel, while US WTI crude futures rose 10.5% to trade at $22.51 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 1.2%, STOXX Europe 600 Index declining 0.3% and German DAX 30 index dropping 0.6%. The UK's FTSE index was trading lower by 0.7%, while French CAC 40 Index rose 1.1%.

In Asian markets, Japan’s Nikkei Stock Average fell 1.04%, Hong Kong’s Hang Seng Index dropped 2.61%, China’s Shanghai Composite Index fell 0.98% and India’s BSE Sensex fell 2.01%.

Broker Recommendation

Analysts at Barclays downgraded ManpowerGroup Inc. (NYSE: MAN) from Overweight to Underweight and lowered the price target from $112 to $68.

ManpowerGroup shares fell 7.1% to close at $70.63 on Wednesday.

Breaking News

  • Lennar Corporation (NYSE: LEN) reported better-than-expected earnings for its first quarter.
  • Five Below Inc (NASDAQ: FIVE) reported better-than-expected results for its fourth quarter on Wednesday.
  • Guess?, Inc. (NYSE: GES) reported better-than-expected Q4 earnings, while sales missed views.
  • AstraZeneca PLC (NYSE: AZN) disclosed that Lynparza has been granted orphan drug designation in Japan.

Related Articles (AZN + FIVE)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at