Pre-open movers
The Investor Movement Index for February is scheduled for release at 12:30 p.m. ET, while data on consumer credit for January will be released at 3:00 p.m. ET.
Futures for the Dow Jones Industrial Average fell 468 points to 33,115.00 while the Standard & Poor’s 500 index futures slipped 64 points to 4,263.25. Futures for the Nasdaq index dropped 224.25 points to 13,615.50.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 80,917,520 with around 984,020 deaths. India reported a total of at least 42,967,310 confirmed cases, while Brazil confirmed over 29,049,010 cases.
Check out this: Insiders Sell Around $92M Of 4 Stocks
A Peek Into Global Markets
European markets were lower today. The STOXX Europe 600 Index fell 3.6%, while Spain’s IBEX 35 Index fell 5% and London’s FTSE 100 fell 2.5%. The French CAC 40 Index fell 4.3%, while German DAX dropped 4.5%. Retail sales in Germany rose 2% from a month ago in January versus a 5.5% decline in December, while new orders for manufactured goods rose 1.8% in January. The Halifax house price index in the UK jumped 10.8% year-over-year in February
Broker Recommendation
JP Morgan downgraded Philip Morris International Inc. (NYSE:PM) from Overweight to Neutral and lowers the price target from $130 to $110.
Philip Morris shares fell 2.8% to $97.06 in pre-market trading.
Check out this: Executives Buy Over $70M Of 4 Stocks
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