A Peek Into The Markets: US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The S&P Corelogic Case-Shiller home price index for March is schedule for release at 9:00 a.m. ET, while the Conference Board’s consumer confidence index for May will be released at 10:00 a.m. ET. The Dallas Fed manufacturing index for May is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average tumbled 186 points to 24,544.00, while the Standard & Poor’s 500 index futures fell 20 points to 2,697.50. Futures for the Nasdaq 100 index declined 39.50 points to 6,918.25.

Oil prices traded mixed as Brent crude futures rose 0.54 percent to trade at $75.71 per barrel, while US WTI crude futures dropped 1.41 percent to trade at $66.92 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 2.37 percent, STOXX Europe 600 Index tumbling 1.29 percent and German DAX 30 index dropping 1.42 percent. The UK's FTSE index was trading lower by 1.24 percent, while French CAC 40 Index fell 1.30 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.55 percent, Hong Kong’s Hang Seng Index declined 1 percent, China’s Shanghai Composite Index dipped 0.47 percent and India’s BSE Sensex declined 0.61 percent.

Broker Recommendation

Analysts at HSBC downgraded Novartis AG (NYSE: NVS) from Buy to Hold.

Novartis shares fell 1.18 percent to $75.20 in pre-market trading.

Breaking news

• Transenterix Inc (NYSE: TRXC) disclosed that it has received the FDA clearance for expanded indications for its Senhance Surgical System.
• Momo Inc (ADR) (NASDAQ: MOMO) reported better-than-expected results for its first quarter and issued strong sales forecast for the second quarter.
• Myriad Genetics, Inc. (NASDAQ: MYGN) agreed to acquire Counsyl for $375 million in cash and stock.
• HFF, Inc. (NYSE: HF) reported the sale of 5 Bryant Park in Manhattan for $640 million.