A Peek Into The Markets: U.S. Stock Futures Edge Lower Ahead Of Fed Speakers

Benzinga Team Benzinga

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.

Author

Benzinga Team

Benzinga

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EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.