A Peek Into The Markets: US Stock Futures Mostly Lower; Nike Reports Quarterly Loss

Pre-open movers

U.S. stock futures traded mostly lower in early pre-market trade, after posting gains in the previous session. The Federal Reserve released the results of its stress tests for 2020. Data on personal income and consumer spending for May will be released at 8:30 a.m. ET, while the University of Michigan's consumer sentiment index for June is scheduled for release at 10:00 a.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 2,422,310 with around 124,410 deaths. Russia reported a total of at least 619,930 confirmed cases, while Brazil confirmed over 1,228,110 cases.

Futures for the Dow Jones Industrial Average dropped 85 points to 25,511 while the Standard & Poor’s 500 index futures traded fell 3.45 points to 3,067.25. Futures for the Nasdaq 100 index rose 6 points to 10,094.25.

Oil prices traded higher as Brent crude futures rose 1% to trade at $41.54 per barrel, while US WTI crude futures rose 1% to trade at $39.10 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.1% and STOXX Europe 600 Index gaining 0.6%. The UK's FTSE index was trading higher by 1%, while French CAC 40 Index rose 0.7% and German DAX 30 gained 0.4%.

In Asian markets, Japan’s Nikkei rose 1.13%, Hong Kong’s Hang Seng Index fell 0.93%, China’s Shanghai Composite Index gained 0.3% and India’s BSE Sensex rose 0.8%.

Broker Recommendation

Analysts at Bernstein downgraded The Boeing Company BA from Outperform to Market Perform.

Boeing shares fell 1.4% to $172.45 in pre-market trading.

Breaking News

  • Nike Inc NKE reported a loss for the fourth quarter. The company’s earnings and sales results also missed analysts’ expectations.
  • Uber Inc’s UBER financial services unit head Peter Hazlehurst resigned Thursday as the company changes course on financial services.
  • Zogenix, Inc. ZGNX reported the FDA approval of its new therapy for Dravet syndrome.
  • Progress Software Corp PRGS reported better-than-expected results for its second quarter and lifted its FY20 guidance.
Posted In: A Peek Into The MarketsEarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.