Pre-open movers
U.S. stock futures traded slightly lower in early pre-market trade on Wednesday after the Dow Jones dropped over 150 points in the previous session. Investors are awaiting earnings results from Brinker International, Inc. (NYSE:EAT), Salesforce, Inc. (NYSE:CRM) and NVIDIA Corporation (NASDAQ:NVDA).
Data on durable goods orders for July will be released at 8:30 a.m. ET, while the pending home sales index for July is scheduled for release at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 38 points to 32,863.00 while the Standard & Poor’s 500 index futures fell 3.25 points to 4,127.25. Futures for the Nasdaq index fell 9.50 points to 12,887.00.
Oil prices traded higher as Brent crude futures rose 1% to trade at $101.20 per barrel, while US WTI crude futures rose 1% to trade at $94.66 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.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 95,537,990 with around 1,066,410 deaths. India reported a total of at least 44,368,190 confirmed cases, while France confirmed over 34,387,610 cases.
A Peek Into Global Markets
European markets were lower today. The STOXX Europe 600 Index slipped 0.2%, London’s FTSE 100 fell 0.5% while Spain’s IBEX 35 Index fell 0.3%. The French CAC 40 Index fell 0.2%, while German DAX declined 0.4%.
Asian markets traded mixed today. Japan’s Nikkei 225 fell 0.49%, China’s Shanghai Composite fell 1.86%, while Hong Kong’s Hang Seng Index fell 1.20%. Australia’s S&P/ASX 200 rose 0.5%, while India’s S&P BSE SENSEX rose 0.2%.
Broker Recommendation
BMO Capital downgraded Bank of Nova Scotia (TSX:BNS) from Outperform to Market Perform.
Check out this: Volatility In Markets Increases Further After US Private-Sector Business Activity Contracts Again
Breaking News
- Toll Brothers, Inc. (NYSE:TOL) reported better-than-expected earnings for its third quarter, but lowered its full-year deliveries guidance.
- A former Twitter Inc's (NYSE:TWTR) security chief, in a disclosure to U.S. regulators, alleged that Narendra Modi's government forced the social media giant to put a government agent on the payroll.
- Nordstrom, Inc. (NYSE:JWN) reported better-than-expected results for its second quarter, but lowered its FY22 outlook.
- The world’s largest cryptocurrency exchange Binance is launching zero-fees trading for Ethereum (CRYPTO: ETH) on its platform.
