US Stock Futures Slide Ahead Of Deere, Foot Locker Earnings

Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of earnings from Deere & Company (NYSE: DE) and Foot Locker, Inc. (NYSE: FL). The manufacturing PMI for August will be released at 9:45 a.m. ET. Futures for the Dow Jones Industrial Average dropped 62.5 points to 16,854.5, while the Standard & Poor's 500 index futures fell 4.05 points to 2,021.45. Futures for the Nasdaq 100 index slipped 17.45 points to 4,348.80.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.10 percent, STOXX Europe 600 Index declining 1.27 percent and German DAX 30 index dropping 0.96 percent. French CAC 40 Index declined 1.08 percent and London's FTSE 100 Index fell 0.89 percent.

In Asian markets, Japan's Nikkei Stock Average fell 2.98 percent, Hong Kong's Hang Seng Index declined 1.53 percent, China's Shanghai Composite Index dipped 4.27 percent and India's BSE Sensex fell 0.88 percent.

Broker Recommendation
Analysts at B. Riley downgraded Stage Stores Inc (NYSE: SSI) from Buy to Neutral and lowered the price target from $20.00 to $14.00.

Stage Stores shares dipped 29.29 percent to close at $11.95 yesterday.

Breaking news

• Hewlett-Packard Company (NYSE: HPQ) reported better-than-expected earnings for its fiscal third quarter, but the company's sales missed analysts' estimates. To read the full news, click here.
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• Accuray Incorporated (NASDAQ: ARAY) announced today it has received a multi-system order from 21st Century Oncology for one CyberKnife® M6™ and four TomoHDA™ Systems. To read the full news, click here.
• Hibbett Sports, Inc. (NASDAQ: HIBB) reported in-line earnings for the second quarter, but the company's sales missed analysts' estimates. The company also lowered its forecast for the full year. To read the full news, click here.