Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on Gross Domestic Product for the third quarter will be released at 8:30 a.m. ET, while the University of Michigan’s consumer sentiment index for October is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dipped 207 points to 24,670.00, while the Standard & Poor’s 500 index futures traded declined 30 points to 2,659.25. Futures for the Nasdaq 100 index fell 148 points to 6,781.75.

Oil prices traded lower as Brent crude futures fell 0.98 percent to trade at $76.14 per barrel, while US WTI crude futures fell 1.34 percent to trade at $66.43 a barrel. The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.35 percent, STOXX Europe 600 Index declining 1.43 percent and German DAX 30 index dropped 1.89 percent. The UK’s FTSE index was trading lower by 1.15 percent, while French CAC 40 Index dropped 2.33 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.40 percent, Hong Kong’s Hang Seng Index fell 1.11 percent, China’s Shanghai Composite Index slipped 0.19 percent and India’s BSE Sensex fell 1.01 percent.

Broker Recommendation

Analysts at Benchmark downgraded Western Digital Corp WDC from Buy to Hold.

Western Digital shares fell 14.8 percent to $46.00 in pre-market trading.

Breaking News

  • Amazon.com, Inc. AMZNreported downbeat results for its third quarter and issued weak fourth-quarter sales guidance. Amazon cited the strong dollar affecting fourth-quarter sales expectations.
  • Alphabet Inc GOOGreported upbeat earnings for its third quarter, while sales missed estimates.
  • Weyerhaeuser Co WYreported wekaer-than-expected earnings for its third quarter.
  • Zimmer Biomet Holdings Inc ZBHreported upbeat earnings for its third quarter.