Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET, while the FHFA House Price Index for June is schedule for release at 9:00 a.m. ET. The flash Composite Purchasing Managers’ Index for August will be released at 9:45 a.m. ET, while new home sales report for July is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 2 points to 25,712.00, while the Standard & Poor’s 500 index futures traded fell 0.50 points to 2,860.75. Futures for the Nasdaq 100 index declined 3.75 points to 7,429.50.

Oil prices traded lower as Brent crude futures fell 0.32 percent to trade at $74.54 per barrel, while US WTI crude futures dropped 0.12 percent to trade at $67.78 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.13 percent, STOXX Europe 600 Index surging 0.09 percent and German DAX 30 index dropping 0.15 percent. The UK’s FTSE index was trading higher by 0.05 percent, while French CAC 40 Index rose 0.10 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.22 percent, Hong Kong’s Hang Seng Index fell 0.49 percent, China’s Shanghai Composite Index jumped 0.37 percent and India’s BSE Sensex gained 0.13 percent.

Broker Recommendation

Analysts at Susquehanna upgraded Deckers Outdoor Corp DECK from Negative to Neutral.

Deckers Outdoor shares fell 0.15 percent to $118.90 in pre-market trading.

Breaking News

  • Hormel Foods Corp HRLreported in-line earnings for its third quarter, while sales missed estimates. The company also lowered its FY18 sales guidance.
  • Mallinckrodt PLC MNKand NPXe reported FDA Fast Track designation for Phase 3 trial of inhaled xenon gas therapy.
  • Williams-Sonoma, Inc. WSMreported better-than-expected results for its second quarter. Comps were up 4.6 percent in the quarter. The company also raised FY18 guidance.
  • L Brands IncLB reported upbeat earnings for its second quarter, but lowered its FY18 forecast. The company also disclosed that CEO Of Victoria’s Secret PINK brand Denise Landman will retire at the year end.