A Peek Into The Markets: U.S. Stock Futures Mostly Lower Ahead of ADP Report, Fed Decision

Pre-open movers

U.S. stock futures traded mostly lower in early pre-market trade. Facebook Inc (NASDAQ: FB), Metlife Inc (NYSE: MET) and Whole Foods Market, Inc. (NASDAQ: WFM) will report quarterly earnings today. The ADP national employment report for October will be released at 8:15 a.m. ET, while the Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 20 points to 17,919.00, while the Standard & Poor’s 500 index futures declined 1 point to 2,102.75. Futures for the Nasdaq 100 index rose 1 point to 4,758.25.

Oil prices traded lower as Brent crude futures slipped 1.43 percent to trade at $47.45 per barrel, while US WTI crude futures also fell 1.65 percent to trade at $45.90 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.08 percent, STOXX Europe 600 Index falling 0.39 percent and German DAX 30 index dropping 0.74 percent. The UK's FTSE index was trading lower by 0.32 percent, while French CAC 40 Index fell 0.64 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.76 percent, Hong Kong’s Hang Seng Index dropped 1.45 percent, China’s Shanghai Composite Index slipped 0.63 percent and India’s BSE Sensex fell 1.25 percent.

Broker Recommendation

Analysts at Argus downgraded Pfizer Inc. (NYSE: PFE) from Buy to Hold.

Pfizer shares fell 0.45 percent to $30.93 in pre-market trading.

Breaking news

• Time Warner Inc. (NYSE: TWX) delivered better than expected results for the third quarter. The company also boosted its full year forecast. To read the full news, click here.
• Allergan PLC (NYSE: AGN) delivered below than expected results for the third quarter. To read the full news, click here.
• Alibaba Group Holding Ltd (NYSE: BABA) reported better than expected results for the second quarter. To read the full news, click here.
• Electronic Arts Inc. (NASDAQ: EA) raised its forecast for the full year. The company also posted upbeat results for second quarter. To read the full news, click here.