Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings from General Electric Company GE. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 9:40 a.m. ET, while San Francisco Federal Reserve Bank President John Williams will speak in Pebble Beach, California at 11:15 a.m. ET.

Futures for the Dow Jones Industrial Average declined 35 points to 24,602, while the Standard & Poor’s 500 index futures fell 1.25 points to 2,691.75. Futures for the Nasdaq 100 index slipped 14.50 points to 6,765.50.

Oil prices traded higher as Brent crude futures rose 0.38 percent to trade at $74.06 per barrel, while US WTI crude futures rose 0.28 percent to trade at $68.48 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.


A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.31 percent, STOXX Europe 600 Index gaining 0.08 percent and German DAX 30 index gaining 0.07 percent. The UK’s FTSE index was trading higher by 0.46 percent, while French CAC 40 Index rose 0.41 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.13 percent, Hong Kong’s Hang Seng Index fell 0.94 percent, China’s Shanghai Composite Index declined 1.47 percent and India’s BSE Sensex fell 0.03 percent.

Broker Recommendation

Analysts at Wells Fargo upgraded Syntel, Inc. SYNT from Underperform to Market Perform.

Syntel shares rose 0.47 percent to $28.01 in pre-market trading.

Breaking news

  • Honeywell International Inc. HONreported better-than-expected earnings for its first quarter and raised its FY18 outlook.
  • Skechers USA IncSKX reported in-line earnings for its first quarter, but issued weak guidance for the second quarter. The company expects Q2 earnings of of 38-43 cents, well short of the consensus 54-cent estimate.
  • Stanley Black & Decker, Inc.SWK reported better-than-expected earnings for its first quarter.
  • Atlassian Corporation PLCTEAM reported upbeat earnings for its third quarter, but issued weak forecast for the third quarter.