A Peek Into The Markets: US Stock Futures Tumble; Dow Futures Down Over 150 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Richmond Fed's manufacturing index for May and the State Street Investor Confidence Index for May will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 153 points to 25,216.00, while the Standard & Poor’s 500 index futures fell 15.6 points to 2,789.50. Futures for the Nasdaq 100 index declined 57.5 points to 7,237.50.

Oil prices traded lower as Brent crude futures fell 1.8 percent to trade at $67.41 per barrel, while US WTI crude futures fell 2 percent to trade at $57.97 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.2 percent, STOXX Europe 600 Index declined 1.2 percent and German DAX 30 index dropped 1.1 percent. The UK's FTSE index was trading lower by 1.3 percent, while French CAC 40 Index fell 1.6 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.21 percent, Hong Kong’s Hang Seng Index declined 0.57 percent, China’s Shanghai Composite Index rose 0.16 percent and India’s BSE Sensex declined 0.62 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded General Mills, Inc. GIS from Neutral to Sell.

General Mills shares fell 3.6 percent to $49.26 in pre-market trading.

Breaking News

• Devon Energy Corp DVN agreed to sell its Canadian business to Canadian Natural Resources Ltd CNQ for $2.8 billion.
• Heico Corp HEI reported better-than-expected results for its second quarter on Tuesday.
• Rockwell Medical Inc RMTI reported submission of New Drug Application for I.V. Triferic.
• Workday Inc WDAY reported stronger-than-expected results for its first quarter.