A Peek Into The Markets: US Stock Futures Down Ahead Of Earnings

This post was originally published on this site

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings several companies. The flash Composite Purchasing Managers’ Index for July will be released at 9:45 a.m. ET, while new home sales report for June is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 62 points to 27,262, while the Standard & Poor’s 500 index futures fell 9 points to 2,999.00. Futures for the Nasdaq 100 index declined 48.25 points to 7,935.50.

Oil prices traded higher as Brent crude futures rose 0.3% to trade at $63.99 per barrel, while US WTI crude futures rose 0.5% to trade at $57.05 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.1%, STOXX Europe 600 Index dropping 0.2% and German DAX 30 index gaining 0.3%. The UK’s FTSE index was trading lower by 0.9%, while French CAC 40 Index fell 0.5%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.41%, Hong Kong’s Hang Seng Index rose 0.2%, China’s Shanghai Composite Index climbed 0.8% and India’s BSE Sensex fell 0.36%.

Broker Recommendation

Analysts at Citi downgraded Trade Desk Inc (NASDAQ: TTD) from Buy to Neutral and raised the price target from $205 to $250.

Trade Desk shares rose 0.1 percent to $245.50 in pre-market trading.

Breaking News

  • AT&T Inc. (NYSE: T) reported in-line earnings for its second quarter, while sales exceeded views.
  • Thermo Fisher Scientific Inc. (NYSE: TMO) reported better-than-expected earnings for its second quarter and raised its FY19 guidance.
  • Anthem Inc (NYSE: ANTM) reported better-than-expected results for its second quarter and raised its FY19 EPS guidance.
  • Owens Corning (NYSE: OC) reported better-than-expected earnings for its second quarter.

© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.