Pre-open movers
U.S. stock futures traded slightly lower in early pre-market trade. Kansas City Federal Reserve Bank President Esther George is set to speak in Oklahoma City at 9:30 a.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Oklahoma City at 1:30 p.m. ET. The flash Composite Purchasing Managers' Index for September is schedule for release at 9:45 a.m. ET.
Futures for the Dow Jones Industrial Average declined 12 points to 22,321.00, while the Standard & Poor’s 500 index futures fell 2.25 point at 2,498.75. Futures for the Nasdaq 100 index slipped 10.25 points to 5,935.75.
Oil prices traded mixed as Brent crude futures rose 0.02 percent to trade at $56.44 per barrel, while US WTI crude futures declined 0.12 percent to trade at $50.49 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 higher today, with the Spanish Ibex Index rising 0.14 percent, STOXX Europe 600 Index gaining 0.18 percent and German DAX 30 index climbing 0.36 percent. The UK's FTSE index was trading higher by 0.18 percent, while French CAC 40 Index rose 0.53 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.18 percent, Hong Kong’s Hang Seng Index declined 0.06 percent, China’s Shanghai Composite Index slipped 0.24 percent and India’s BSE Sensex slipped 1.38 percent.
Broker Recommendation
Analysts at Cowen & Co. downgraded United States Steel Corporation (NYSE: X) from Market Perform to Underperform.
United States Steel shares fell 2.88 percent to $23.95 in pre-market trading.
Breaking news
- Finish Line (NASDAQ: FINL) reported Q2 adjusted earnings of $0.12 per share on revenue of $469.4 million.
- Texas Instruments Incorporated (NASDAQ: TXN) raised its quarterly dividend from $0.50 per share to $0.62 per share and added $6 billion to its buyback plan.
- Presidio Inc (NASDAQ: PSDO) reported in-line earnings for its fourth quarter, while sales missed estimates.
- General Dynamics Corporation (NYSE: GD) disclosed that it has been awarded a $5 billion contract to design US Navy ballistic-missile submarine.
Benzinga does not provide investment advice. All rights reserved.
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