A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Economic Reports

10/04/17 07:20 AM EDT

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The ADP national employment report for September will be released at 8:15 a.m. ET, while US Services Purchasing Managers' Index for September is schedule for release at 9:45 a.m. ET. The ISM non-manufacturing index for September will be released at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in St. Louis at 3:00 p.m. ET, while Federal Reserve Chair Janet Yellen will speak in St. Louis at 3:15 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 14 points to 22,594.00, while the Standard & Poor’s 500 index futures fell 2 points at 2,530.75. Futures for the Nasdaq 100 index declined 6.75 points to 5,991.25.

Oil prices traded lower as Brent crude futures fell 0.25 percent to trade at $55.86 per barrel, while US WTI crude futures dropped 0.26 percent to trade at $50.29 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 mostly lower today, with the Spanish Ibex Index falling 2.55 percent, STOXX Europe 600 Index dropping 0.33 percent and German DAX 30 index declining 0.06 percent. The UK's FTSE index was trading lower by 0.04 percent, while French CAC 40 Index fell 0.38 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.06 percent, Hong Kong’s Hang Seng Index rose 0.73 percent, China’s Shanghai Composite Index gained 0.28 percent and India’s BSE Sensex rose 0.55 percent.

Broker Recommendation

Analysts at Telsey Advisory Group upgraded Jack in the Box Inc. (NASDAQ: JACK) from Market Perform to Outperform.

Jack In The Box shares fell 1.24 percent to close at $99.34 on Tuesday.

Breaking news

  • PepsiCo, Inc. (NYSE: PEP) reported better-than-expected profit for its third quarter, while sales missed estimates.
  • Mylan N.V. (NASDAQ: MYL) reported the FDA approval of first generic for Copaxone 40 mg/mL 3-times-a-week.
  • NewLink Genetics Corp (NASDAQ: NLNK) priced 5 million share common stock offering at $10.25 per share.
  • Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) reported an offering of $40 million in common shares.