A Peek Into The Markets: US Stock Futures Tumble Ahead Of Fed Minutes

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 105 points to 27,790 while the Standard & Poor’s 500 index futures traded fell 10.5 points to 3,108.00. Futures for the Nasdaq 100 index fell 36.75 points to 8,304.75.

Oil prices traded higher as Brent crude futures rose 0.5% to trade at $61.19 per barrel, while US WTI crude futures rose 0.4% to trade at $55.40 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.7%, STOXX Europe 600 Index declining 0.8% and German DAX 30 index dropping 0.9%. The UK's FTSE index was trading lower by 1.3%, while French CAC 40 Index fell 0.7%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.62%, Hong Kong’s Hang Seng Index dropped 0.75%, China’s Shanghai Composite Index fell 0.28% and India’s BSE Sensex rose 0.45%.

Broker Recommendation

Analysts at Bank of America upgraded Canopy Growth Corp CGC from Neutral to Buy.

Canopy Growth shares rose 5.4% to $16.15 in pre-market trading.

Breaking News

• Lowe's Companies, Inc. LOW reported upbeat earnings for its third quarter, while sales missed estimates.
• LivaNova PLC LIVN announced plans to restructure its heart valve business line and end its caisson Transcatheter Mitral Valve Replacement program.
• Urban Outfitters, Inc. URBN reported weaker-than-expected results for its third quarter on Tuesday.
• SuperCom Ltd. SPCB disclosed that it has won a $3.75 million contract to provide employment and reentry services.