Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The ADP national employment report for March will be released at 8:15 a.m. ET. US Services Purchasing Managers’ Index for March is schedule for release at 9:45 a.m. ET. Data on factory orders for February and the ISM non-manufacturing index for March will be released at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in Little Rock, Arkansas at 9:45 a.m. ET, while Cleveland Federal Reserve Bank President Loretta Mester will speak in Wilberforce, Ohio at 11:00 a.m. ET.

Futures for the Dow Jones Industrial Average fell 455 points to 23,529.00, while the Standard & Poor’s 500 index futures dropped 37.75 points to 2,575.50. Futures for the Nasdaq 100 index dipped 111 points to 6,355.75.

Oil prices traded lower as Brent crude futures fell 1.42 percent to trade at $67.15 per barrel, while US WTI crude futures fell 1.54 percent to trade at $62.53 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.07 percent, STOXX Europe 600 Index dropping 1.19 percent and German DAX 30 index falling 1.55 percent. The UK’s FTSE index was trading lower by 0.61 percent, while French CAC 40 Index fell 1.03 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.13 percent, Hong Kong’s Hang Seng Index dropped 2.19 percent, China’s Shanghai Composite Index fell 0.18 percent and India’s BSE Sensex fell 1.05 percent.

Broker Recommendation

Analysts at Mizuho downgraded Endo International plc ENDP from Buy to Neutral.

Endo shares fell 3.32 percent to $5.53 in pre-market trading.

Breaking news

  • Lennar CorporationLEN reported upbeat earnings for its first quarter on Wednesday.
  • SS&C Technologies Holdings, Inc.SSNC announced the pricing of 26.315 million share common stock offering at $47.50 per share.
  • Dave & Buster’s Entertainment IncPLAY reported upbeat earnings for its fourth quarter, while sales missed estimates.
  • RMG Networks Holding CorpRMGN agreed to be acquired by SCG Digital for $1.27 per share.