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. Futures for the Dow Jones Industrial Average dropped 178 points to 23,772.00, while the Standard & Poor’s 500 index futures fell 19.6 points to 2,575.25. Futures for the Nasdaq 100 index declined 66.25 points to 6,546.50.

Oil prices traded lower as Brent crude futures fell 0.79 percent to trade at $60.00 per barrel, while US WTI crude futures dropped 0.91 percent to trade at $51.12 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.1 percent, STOXX Europe 600 Index declining 0.77 percent and German DAX 30 index dropped 0.66 percent. The UK’s FTSE index was trading lower by 0.94 percent, while French CAC 40 Index fell 0.79 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.97 percent, Hong Kong’s Hang Seng Index fell 1.38 percent, China’s Shanghai Composite Index dropped 0.71 percent and India’s BSE Sensex fell 0.43 percent.

Broker Recommendation

Analysts at Bank of America downgraded Delta Air Lines, Inc. (NYSE: DAL) from Buy to Neutral and lowered the price target from $62 to $51

Delta Air shares fell 1.77 percent to $47.70 in pre-market trading.

Breaking News

• Tailored Brands Inc (NYSE: TLRD) lowered its Q4 and FY18 earnings guidance.
• Crocs, Inc. (NASDAQ: CROX) raised its sales outlook for Q4 and FY18.
• Yeti Holdings Inc (NYSE: YETI) raised its forecast for the year. The company said it projects full-year adjusted earnings of $0.88 to $0.90 per share, versus earlier forecast of $0.79 to $0.82 per share, and sales of $778.8 million.
• Stein Mart, Inc. (NASDAQ: SMRT) reported a 3.3 percent drop in its comparable stores sales for the nine-week period ended January 5, 2019 on a shifted basis.