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. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia at 8:45 a.m. ET. Data on wholesale trade inventories for July will be released at 10:00 a.m. ET, while data on consumer credit for July will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average tumbled 91 points to 21,679.00, while the Standard & Poor’s 500 index futures fell 9.25 points to 2,455.50. Futures for the Nasdaq 100 index declined 20.50 points to 5,957.00.

Oil prices traded mixed as Brent crude futures rose 0.48 percent to trade at $54.75 per barrel, while US WTI crude futures dropped 0.31 percent to trade at $48.94 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 mostly lower today, with the Spanish Ibex Index rising 0.02 percent, STOXX Europe 600 Index declining 0.19 percent and German DAX 30 index dropping 0.10 percent. The UK's FTSE index was trading lower by 0.45 percent, while French CAC 40 Index fell 0.29 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.63 percent, Hong Kong’s Hang Seng Index climbed 0.53 percent, China’s Shanghai Composite Index fell 0.01 percent and India’s BSE Sensex rose 0.08 percent.

Broker Recommendation

Analysts at Credit Suisse downgraded PepsiCo, Inc. PEP from Outperform to Neutral.

PepsiCo shares fell 0.55 percent to $116.35 in pre-market trading.

Breaking news

• Finisar Corporation FNSR reported in-line earnings for its first quarter, but issued a weak forecast for the current quarter.



• Science Applications International Corp SAIC reported weaker-than-expected earnings for its second quarter on Thursday.



• VeriFone Systems Inc PAY posted in-line earnings for its third quarter. However, the company issued a weak outlook for the fourth quarter.



• Tailored Brands Inc TLRD reported upbeat earnings for its third quarter, while sales missed estimates. The company also narrowed its FY17 earnings guidance.