A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade.

The Chicago Fed National Activity Index for February is schedule for release at 8:30 a.m. ET, while the Dallas Fed manufacturing index for March will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 37 points to 25,533.00, while the Standard & Poor’s 500 index futures fell 5.75 points to 2,805.50. Futures for the Nasdaq 100 index fell 36 points to 7,334.75.

Oil prices traded lower as Brent crude futures fell 0.2 percent to trade at $66.89 per barrel, while US WTI crude futures fell 0.1 percent to trade at $58.96 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index rising 0.1 percent, STOXX Europe 600 Index dropping 0.4 percent and German DAX 30 index dropped 0.1 percent. The UK's FTSE index was trading lower by 0.4 percent, while French CAC 40 Index fell 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 3.01 percent, Hong Kong’s Hang Seng Index dropped 2.03 percent, China’s Shanghai Composite Index fell 1.97 percent and India’s BSE Sensex fell 0.93 percent.

Broker Recommendation

Analysts at Deutsche Bank downgraded Akamai Technologies, Inc. AKAM from Hold to Sell and announced a $58 price target.

Akamai shares fell 3.8 percent to $68.53 in pre-market trading.

Breaking News

• Winnebago Industries, Inc. WGO reported upbeat earnings for its fourth quarter, while sales missed views.
• Aptose Biosciences Inc APTO reported FDA allowance of Investigational New Drug Application for CG-806.
• Titan Machinery Inc TITN and Teleflex Incorporated TFX reported collaboration for development of Robotic Ligation Technology.
• Thermo Fisher Scientific Inc. TMO announced plans to buy Brammer Bio in a $1.7 billion deal.