A Peek Into The Markets: US Stock Futures Down; Dow Futures Fall Over 100 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The flash Composite Purchasing Managers’ Index for November is schedule for release at 9:45 a.m. ET.

Futures for the Dow Jones Industrial Average dipped 112 points to 24,353, while the Standard & Poor’s 500 index futures traded fell 11 points to 2,638.00. Futures for the Nasdaq 100 index declined 30.5 points to 6,545.75.

Oil prices traded lower as Brent crude futures fell 2.46 percent to trade at $61.06 per barrel, while US WTI crude futures fell 4.39 percent to trade at $52.23 a barrel.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 0.01 percent, STOXX Europe 600 Index climbing 0.07 percent and German DAX 30 index declined 0.06 percent. The UK’s FTSE index was trading lower by 0.02 percent, while French CAC 40 Index rose 0.02 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.65 percent, Hong Kong’s Hang Seng Index declined 0.35 percent, China’s Shanghai Composite Index fell 2.49 percent and India’s BSE Sensex declined 0.62 percent.

Broker Recommendation

Analysts at RBC Capital downgraded Credit Suisse Group AG (NYSE: CS) from Outperform to Sector Perform.

Credit Suisse shares fell 1.25 percent to $11.81 in pre-market trading.

Breaking News

• TSR Inc (NASDAQ: TSRI) disclosed that it has received an offer from QAR Industries at $6.25 per share.
• Ability Inc (NASDAQ: ABIL) priced 3.076 million shares at $3.25 per unit.
• Orchids Paper Products Company (NYSE: TIS) shares jumped around 143 percent in pre-market trading after the company issued press release highlighting a deal with its creditors to increase revolving credit line by $5.9 million. The company also won a ‘significant’ bid from a new customer.
• Sunlands Online Education Group – ADR (NYSE: STG) reported a Q3 loss of $4.76 per share on sales of $75.279 million.