A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The S&P Corelogic Case-Shiller home price index for June will be released at 9:00 a.m. ET, while the Conference Board’s consumer confidence index for August is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average tumbled 114 points to 21,677.00, while the Standard & Poor’s 500 index futures fell 16.25 points to 2,427.50. Futures for the Nasdaq 100 index declined 49.25 points to 5,794.25.

Oil prices traded lower as Brent crude futures fell 0.85 percent to trade at $51.45 per barrel, while US WTI crude futures declined 0.19 percent to trade at $46.48 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.19 percent, STOXX Europe 600 Index declining 1.36 percent and German DAX 30 index dropping 1.74 percent. The UK's FTSE index was trading lower by 1.16 percent, while French CAC 40 Index fell 1.40 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.45 percent, Hong Kong’s Hang Seng Index dropped 0.35 percent, China’s Shanghai Composite Index climbed 0.08 percent and India’s BSE Sensex dipped 1.14 percent.

Broker Recommendation

Analysts at FBR Capital downgraded Finish Line Inc FINL from Buy to Neutral.

Finish Line shares fell 26.58 percent to $7.65 in pre-market trading.

Breaking news

Best Buy Co Inc BBY reported upbeat results for its second quarter and issued a strong forecast for the current quarter.

Finish Line Inc FINL issued weak forecast for the second quarter and lowered its guidance for the year. The company also disclosed that its board has adopted a shareholder rights plan.