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

Benzinga Team Benzinga

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on retail sales for August and the Empire State manufacturing index for September will be released at 8:30 a.m. ET. Data on industrial production for August will be released at 9:15 a.m. ET. Data on business inventories for July and the University of Michigan's consumer sentiment index for September will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 9 points to 22,163.00, while the Standard & Poor’s 500 index futures fell 3.25 points to 2,491.00. Futures for the Nasdaq 100 index declined 9.25 points to 5,961.50.

Oil prices traded mixed as Brent crude futures rose 0.04 percent to trade at $55.49 per barrel, while US WTI crude futures dropped 0.02 percent to trade at $49.98 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.32 percent, STOXX Europe 600 Index falling 0.15 percent and German DAX 30 index dropping 0.11 percent. The UK's FTSE index was trading lower by 1.27 percent, while French CAC 40 Index declined 0.16 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.52 percent, Hong Kong’s Hang Seng Index gained 0.11 percent, China’s Shanghai Composite Index fell 0.53 percent and India’s BSE Sensex rose 0.10 percent.

Broker Recommendation

Analysts at JP Morgan upgraded Southwest Airlines Co LUV 0.2%from Neutral to Overweight and raised the price target from $60.00 to $66.00.

Southwest shares rose 1.20 percent to $55.00 in pre-market trading.

Breaking news

Oracle Corporation ORCL 5.78% reported better-than-expected results for its first quarter, but issued a weak profit forecast for the current quarter.
T2 Biosystems Inc TTOO 28.29% reported an offering of common stock.
LightPath Technologies, Inc. LPTH 8.72% reported Q4 net income of $6.4 million, up from $331,000 in the year-ago quarter. Its revenue climbed 90 percent to $9.0 million.
Marinus Pharmaceuticals Inc MRNS 6.23% announced a public offering of common stock.

Author

Benzinga Team

Benzinga

Benzinga's news desk is a dynamic and innovative team that provides real-time, actionable articles that help readers navigate the market.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.