Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The flash Composite Purchasing Managers’ Index for February is schedule for release at 9:45 a.m. ET, while data on existing home sales for January will be released at 10:00 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in St Louis at 9:00 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 8:15 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 65 points to 24,883.00, while the Standard & Poor’s 500 index futures fell 5.75 points to 2,708.25. Futures for the Nasdaq 100 index declined 4.75 points to 6,785.25.

Oil prices traded lower as Brent crude futures fell 0.44 percent to trade at $64.96 per barrel, while US WTI crude futures dropped 0.76 percent to trade at $61.32 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.10 percent, STOXX Europe 600 Index dropping 0.63 percent and German DAX 30 index falling 0.79 percent. The UK’s FTSE index was trading lower by 0.17 percent, while French CAC 40 Index fell 0.42 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.21 percent, Hong Kong’s Hang Seng Index climbed 1.81 percent, China’s Shanghai Composite Index gained 0.45 percent and India’s BSE Sensex climbed 0.42 percent.

Broker Recommendation

Analysts at Susquehanna upgraded Palo Alto Networks Inc PANW from Neutral to Positive.

Palo Alto shares rose 0.47 percent to close at $162.92 on Friday.

Breaking news

  • Advance Auto Parts, Inc. AAPreported stronger-than-expected earnings for its fourth quarter.
  • Boyd Gaming CorporationBYD reported weaker-than-expected results for its fourth quarter on Tuesday.
  • United Therapeutics Corporation UTHRposted in-line earnings for its fourth quarter.
  • LendingClub CorpLC posted downbeat earnings for its fourth quarter on Tuesday.