Pre-open movers

U.S. stock futures traded lower in early pre-market trade, ahead of earnings from several companies. The Consumer Price Index for July is schedule for release at 8:30 a.m. ET. The U.S. Treasury budget report for July is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 99 points to 25,394.00, while the Standard & Poor’s 500 index futures traded fell 12.50 points to 2,841.25. Futures for the Nasdaq 100 index declined 37.75 points to 7,437.50.

Oil prices traded higher as Brent crude futures rose 0.53 percent to trade at $72.45 per barrel, while US WTI crude futures rose 0.54 percent to trade at $67.17 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 mostly lower today, with the Spanish Ibex Index falling 1.18 percent, STOXX Europe 600 Index declining 0.89 percent and German DAX 30 index falling 1.67 percent. The UK’s FTSE index was trading lower by 0.71 percent, while French CAC 40 Index fell 1.2 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.33 percent, Hong Kong’s Hang Seng Index fell 0.88 percent, China’s Shanghai Composite Index climbed 0.03 percent and India’s BSE Sensex dropped 0.41 percent.

Broker Recommendation

Analysts at JP Morgan downgraded Campbell Soup Company CPB from Neutral to Underweight.

Campbell shares fell 1.37 percent to $41.70 in pre-market trading.

Breaking News

  • Trade Desk IncTTD reported better-than-expected earnings for its second quarter. The company issued strong third quarter sales guidance and raised FY18 sales guidance.
  • Dropbox IncDBX reported upbeat results for its second quarter. The company also disclosed that its Chief Operating Officer, Dennis Woodside, will step down early in September.
  • REGENXBIORGNX priced its offering of 2.7 million shares at $65 per share.
  • News CorpNWSA reported upbeat earnings for its fourth quarter on Thursday.