US Stock Futures Edge Lower Ahead Of Federal Budget

US stock futures traded slightly lower in early pre-market trade. The US Treasury monthly budget report for November will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 12 points to 17,768.00, while the Standard & Poor's 500 index futures fell 1.60 points to 2,055.90. Futures for the Nasdaq 100 index dropped 2.75 points to 4,288.00.

European markets were higher today, with the Spanish Ibex Index rising 0.45%, STOXX Europe 600 Index gaining 0.39%. German DAX 30 index climbed 0.64%, French CAC 40 Index jumped 0.35% and London's FTSE 100 Index rose 0.13%. UK trade deficit for goods narrowed to 9.6 billion pounds ($15.1 billion) in October, versus a revised GBP10.5 billion in September. In Asian markets, Japan's Nikkei Stock Average fell 2.25%, Hong Kong's Hang Seng Index rose 0.16%, China's Shanghai Composite Index climbed 2.93% and India's Sensex rose 0.12%.

Analysts at BMO Capital upgraded American Eagle Outfitters

from Market Perform to Outperform. The price target for American Eagle has been raised from $12 to $15. American Eagle's shares closed at $12.51 yesterday.