Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on housing starts for May will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average fell 339 points to 24,677.00, while the Standard & Poor’s 500 index futures traded declined 30.25 points to 2,749.75. Futures for the Nasdaq 100 index dropped 74 points to 7,201.50.

Oil prices traded lower as Brent crude futures fell 0.61 percent to trade at $74.88 per barrel, while US WTI crude futures fell 1.49 percent to trade at $64.87 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.75 percent, STOXX Europe 600 Index dropping 0.96 percent and German DAX 30 index falling 1.32 percent. The UK’s FTSE index was trading lower by 0.52 percent, while French CAC 40 Index fell 1.07 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.77 percent, Hong Kong’s Hang Seng Index dropped 2.78 percent, China’s Shanghai Composite Index fell 3.78 percent and India’s BSE Sensex fell 0.74 percent.

Broker Recommendation

Analysts at Stifel Nicolaus upgraded Intuit Inc. INTU from Hold to Buy.

Intuit shares rose 0.40 percent to $210.00 in pre-market trading.

Breaking news

  • Tellurian Inc.TELL priced its 12 million share offering of common stock for gross proceeds of $118.8 million.
  • Viveve Medical IncVIVE shares climbed over 15 percent in pre-market trading after reporting six-month data from stress urinary incontinence feasibility study. Eighty-three percent of women treated experienced an improvement in one-hour pad weight and achieved clinically meaningful benefit across all quality of life outcome measures.
  • P.H. Glatfelter CompanyGLT announced plans to acquire Georgia-Pacific’s European nonwovens business for $185 million.
  • SenesTech, Inc.SNES disclosed a $10 million mixed securities shelf offering.