U.S. stock futures traded lower in early pre-market trade. The Chicago PMI for August is schedule for release at 9:45 a.m. ET. The University of Michigan’s consumer sentiment index for August will be released at 10:00 a.m. ET. U.S. markets will be closed Monday for Labor Day.
Futures for the Dow Jones Industrial Average fell 45 points to 25,965.00, while the Standard & Poor’s 500 index futures traded fell 4.50 points to 2,897.50. Futures for the Nasdaq 100 index declined 7.75 points to 7,641.25.
Oil prices traded lower as Brent crude futures fell 0.58 percent to trade at $77.32 per barrel, while US WTI crude futures dropped 0.64 percent to trade at $69.80 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 lower today, with the Spanish Ibex Index falling 0.76 percent, STOXX Europe 600 Index declining 0.64 percent and German DAX 30 index dropping 0.84 percent. The UK’s FTSE index was trading lower by 0.39 percent, while French CAC 40 Index fell 1.18 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.02 percent, Hong Kong’s Hang Seng Index fell 0.98 percent, China’s Shanghai Composite Index fell 0.46 percent and India’s BSE Sensex declined 0.12 percent.
Analysts at Telsey Advisory Group downgraded Dollar Tree, Inc. DLTR from Outperform to Market Perform.
Dollar Tree shares rose 0.63 percent to $80.28 in pre-market trading.
- Big Lots, Inc. BIGreported downbeat earnings for its second quarter and issued weak forecast for FY18.
- The Coca-Cola CoKO announced plans to acquire Costa Limited for $5.1 billion.
- Lululemon Athletica inc. LULUreported better-than-expected earnings for its second quarter. The company issued strong third-quarter guidance.
- Ambarella IncAMBA reported upbeat results for its second quarter, but issued weak third-quarter sales guidance.