US Stock Futures Edge Lower Ahead Of Federal Budget

Pre-open movers US stock futures traded slightly lower in early pre-market trade. The US Treasury monthly budget report for November will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 12 points to 17,768.00, while the Standard & Poor's 500 index futures fell 1.60 points to 2,055.90. Futures for the Nasdaq 100 index dropped 2.75 points to 4,288.00. A Peek Into Global Markets European markets were higher today, with the Spanish Ibex Index rising 0.45%, STOXX Europe 600 Index gaining 0.39%. German DAX 30 index climbed 0.64%, French CAC 40 Index jumped 0.35% and London's FTSE 100 Index rose 0.13%. UK trade deficit for goods narrowed to 9.6 billion pounds ($15.1 billion) in October, versus a revised GBP10.5 billion in September. In Asian markets, Japan's Nikkei Stock Average fell 2.25%, Hong Kong's Hang Seng Index rose 0.16%, China's Shanghai Composite Index climbed 2.93% and India's Sensex rose 0.12%. Broker Recommendation Analysts at BMO Capital upgraded American Eagle Outfitters AEO from Market Perform to Outperform. The price target for American Eagle has been raised from $12 to $15. American Eagle's shares closed at $12.51 yesterday. Breaking news

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