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. Data on import and export prices for July will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 225 points to 26,089 while the Standard & Poor’s 500 index futures fell 23 points to 2,909.00. Futures for the Nasdaq 100 index declined 67.5 points to 7,680.50.

Oil prices traded lower as Brent crude futures fell 1.4% to trade at $60.43 per barrel, while US WTI crude futures fell 1.8% to trade at $56.07 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.4%, STOXX Europe 600 Index declining 1% and German DAX 30 index dropping 1.3%. The UK’s FTSE index was trading lower by 0.9%, while French CAC 40 Index fell 1.2%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.98%, Hong Kong’s Hang Seng Index rose 0.08%, China’s Shanghai Composite Index climbed 0.42% and India’s BSE Sensex rose 0.96%.

Broker Recommendation

Analysts at Atlantic Equities upgraded Bristol-Myers Squibb Co (NYSE: BMY) from Neutral to Overweight.

Bristol-Myers Squibb shares rose 0.9% to $46.90 in pre-market trading.

Breaking News

• Crown Crafts, Inc. (NASDAQ: CRWS) reported better-than-expected earnings for its first quarter.
• Presidio Inc (NASDAQ: PSDO) agreed to be acquired by BC Partners for $16 per share in cash.
• Tilray Inc (NASDAQ: TLRY) reported weaker-than-expected earnings for its second quarter, while sales exceeded estimates.
• Myriad Genetics, Inc. (NASDAQ: MYGN) reported downbeat results for its fourth quarter on Tuesday.