A Peek Into The Markets: US Stock Futures Down Following Friday's Rally

Pre-open movers

U.S. stock futures traded lower in early pre-market trade after the Nasdaq jumped more than 400 points in the previous session. Investors are awaiting earnings results from Tencent Music Entertainment Group TME, monday.com Ltd. MNDY and Take-Two Interactive Software, Inc. TTWO.

The Empire State manufacturing index for May is scheduled for release at 8:30 a.m. ET.
New York Fed President John Williams is set to speak at 8:55 a.m. ET.

Check out our premarket coverage here

Futures for the Dow Jones Industrial Average fell 56 points to 32,064.00 while the Standard & Poor’s 500 index futures fell 15.75 points to 4,004.00. Futures for the Nasdaq index dipped 76.50 points to 12,306.25.

Oil prices traded lower as Brent crude futures fell 0.6% to trade at $110.87 per barrel, while US WTI crude futures fell 0.4% to trade at $110.01 a barrel.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 84,230,820 with around 1,026,670 deaths. India reported a total of at least 43,123,800 confirmed cases, while Brazil confirmed over 30,688,390 cases.

Check out this: Apple And 3 Other Stocks Insiders Are Selling


A Peek Into Global Markets

European markets were mixed today. The STOXX Europe 600 Index fell 0.2%, London’s FTSE 100 rose 0.1% while Spain’s IBEX 35 Index rose 0.3%. The French CAC 40 Index fell 0.4%, while German DAX dropped 0.4%. The Eurozone reported a trade gap of €16.4 billion for March, versus a year-ago surplus of €22.5 billion.

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.45%, Hong Kong’s Hang Seng Index climbed 0.26% and China’s Shanghai Composite Index fell 0.34%. Australia’s S&P/ASX 200 rose 0.3% and India’s S&P BSE Sensex rose 0.3%. China's surveyed urban unemployment increased to 6.1% in April from 5.8% in the prior month, while industrial production dropped by 2.9% year-over-year in April. Producer prices in Japan jumped 10% year-over-year in April.

Broker Recommendation

Berenberg upgraded Hyatt Hotels Corporation H from Sell to Hold and raised the price target from $80 to $85.

Hyatt shares fell 0.1% to $83.55 in pre-market trading.

Check out this: Executives Buy Around $85M Of 4 Stocks


Breaking News

  • Ryanair Holdings plc RYAAY reported a narrower underlying losses of 355 million euros (£302 million) for the year to March 31, compared to a year-ago loss of 1.02 billion euros (£867 million).
  • Tesla, Inc.'s TSLA Giga Shanghai plan to ramp output to levels before the latest COVID-19 lockdown may be delayed by at least a week, Reuters reported on Monday, citing an internal company memo.
  • ManTech International Corporation MANT is in advanced talks to be bought by private equity firm Carlyle Group Inc, according to a Bloomberg report.
  • North Atlantic Treaty Organization (NATO) and the United States expressed confidence that Turkey would not hold Finland and Sweden from joining the Western military alliance.

Check out other breaking news here

Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The MarketsInformation TechnologyIT Consulting & Other Services