A Peek Into The Market Before The Trading Starts

Pre-open movers
US stock futures are lower this morning, after the drop in Asian and European markets, due to worse-than-expected Chinese trade data. Futures on the Dow Jones Industrial Average dropped 47 points to 12,127.00 and futures on the S&P 500 stock index fell 7 points to 1,308.40. Nasdaq 100 futures dropped 15 points to 2,295.50.

A Peek Into Global Markets

Negative sentiment ruled the European markets today. While STOXX Europe 600 Index has dropped 0.69%, London's FTSE 100 Index moved down 1.10%.

Asian markets ended in the negative territory, with Japan's Nikkei Stock Average dropping 1.46%, Australia's S&P/ASX 200 moving down 1.48% and China's Shanghai Composite falling 1.51%. Hong Kong's Hang Seng Index declined 0.82% and India's Sensex lost 0.77%.

Broker Recommendation
Wunderlich Securities has upgraded Amerisafe AMSF from “hold” to “buy” and has raised the price target from $18 to $25.

AMSF shares gained 2.11% to close at $21.51 yesterday.

Breaking news

• Citadel Broadcasting Corporation announced today that it has entered into a definitive merger agreement with Cumulus Media Inc. CMLS under which Cumulus will acquire Citadel in a cash-and-stock transaction. To read the full news, click here.



• Kirkland's Inc KIRK reported its Q4 adjusted EPS at $0.66, versus the consensus of $0.66. To read the full news, click here.



• Valero VLO, the largest U.S. refiner, is reportedly close to acquiring Chevron's CVX Pembroke refinery in the U.K. for $2 billion, Bloomberg News reported, citing sources with knowledge of the matter. To read the full news, click here.



• The Buckle Inc BKE reported its Q4 EPS at $1.05, versus the consensus of $1.00. To read the full news, click here.

Read more from Benzinga's Markets.