A Peek Into The Markets: US Stock Futures Mostly Flat; Crude Oil Up Over 1%

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. San Francisco Federal Reserve Bank President Mary Daly is set to speak in Wellington, New Zealand at 5:30 p.m. ET.

Futures for the Dow Jones Industrial Average fell 4 points to 25,740 while the Standard & Poor’s 500 index futures rose 0.35 points to 2,865.75. Futures for the Nasdaq 100 index slipped 6.75 points to 7,556.00.

Oil prices traded higher as Brent crude futures rose 1.2% to trade at $59.75 per barrel, while US WTI crude futures rose 1.1% to trade at $54.24 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. for the latest week 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 falling 0.1%, STOXX Europe 600 Index falling 0.5% and German DAX 30 index dropping 0.7%. The UK's FTSE index was trading higher by 0.2%, while French CAC 40 Index fell 0.6%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.11%, Hong Kong’s Hang Seng Index fell 0.19%, China’s Shanghai Composite Index fell 0.29% and India’s BSE Sensex fell 0.5%.

Broker Recommendation

Analysts at Bank of America downgraded Nabors Industries Ltd. NBR from Buy to Neutral.

Nabors shares rose 1.8% to $1.68 in pre-market trading.

Breaking News

• Tiffany & Co. TIF reported better-than-expected earnings for its second quarter, while sales missed views.
• Coty Inc COTY reported in-line earnings for its fourth quarter, while sales exceeded views.
• Movado Group, Inc MOV reported weaker-than-expected results for its second quarter.
• Hewlett Packard Enterprise Co HPE reported better-than-expected earnings for its third quarter and issued FY19 earnings guidance above analyst estimates.