A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

US stock futures traded lower in early pre-market trade. U.S. quarterly services report for the first quarter, the University of Michigan's consumer sentiment for May, data on e-commerce retail sales for the first quarter and the index of leading economic indicators for April will be released at 10:00 a.m. ET. Federal Reserve Board of Governors Vice Chairman Richard Clarida is set to speak in Camden, New Jersey at 10:00 a.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 11:15 a.m. ET.

Futures for the Dow Jones Industrial Average tumbled 89 points to 25,778, while the Standard & Poor’s 500 index futures fell 11.1 points to 2,867.50. Futures for the Nasdaq 100 index declined 36.75 points to 7,563.50.

Oil futures traded higher, as WTI oil futures rose 0.9 percent to trade at $63.41 a barrel, while Brent crude rose 0.6 percent to $73.03 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.3 percent, STOXX Europe 600 Index declining 0.5 percent and German DAX 30 index dropping 0.7 percent. French CAC 40 Index slipped 0.3 percent and London's FTSE 100 Index fell 0.3 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.89 percent, Hong Kong's Hang Seng Index dropped 1.16 percent, China’s Shanghai Composite Index declined 2.48 percent and India's BSE Sensex climbed 1.44 percent.

Broker Recommendation
KeyBanc downgraded Camping World Holdings Inc CWH from Overweight to Sector Weight.

Camping World shares gained 0.1 percent to $12.28 in pre-market trading.

Breaking news

• NVIDIA Corporation NVDA reported stronger-than-expected earnings for its first quarter on Thursday.
• Deere & Company DE reported downbeat earnings for its second quarter and lowered its FY19 guidance.
• Pinterest Inc PINS reported wider-than-expected loss in its first quarterly report since its IPO. However, sales exceeded estimates. Pinterest said it projects full-year revenue of $1.055 billion to $1.08 billion.
• Baidu Inc BIDU reported downbeat first-quarter earnings and issued weak second-quarter sales guidance.