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A Peek Into The Markets: U.S. Stock Futures Down; All Eyes On Jobs Report

TFX, BIG, AMBA, ULTA | December 2, 2016

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for November will be released at 8:30 a.m. ET. Federal Reserve Gov. Lael Brainard is set to speak in Washington, D.C. at 8:45 a.m. ET, while Federal Reserve Gov. Daniel Tarullo will speak in Washington, D.C. at 12:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 29 points to 19,168.00, while the Standard & Poor’s 500 index futures dropped 5.25 points to 2,186.50. Futures for the Nasdaq 100 index declined 20.25 points to 4,715.00.

Oil prices traded lower as Brent crude futures declined 1.35 percent to trade at $53.21 per barrel, while US WTI crude futures also fell 1.14 percent to trade at $50.48 a barrel. The Baker Hughes North American rig count report for the latest week November is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.64 percent, STOXX Europe 600 Index declining 1.02 percent and German DAX 30 index dropping 0.99 percent. The UK's FTSE index was trading lower by 0.83 percent, while French CAC 40 Index slipped 1.27 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.47 percent, Hong Kong’s Hang Seng Index declined 1.37 percent, China’s Shanghai Composite Index dipped 0.90 percent and India’s BSE Sensex dropped 1.24 percent.

Broker Recommendation

Analysts at Bank of America upgraded J C Penney Company Inc (NYSE: JCP) from Neutral to Buy.

JC Penney shares rose 3.88 percent to $9.90 in pre-market trading.

Breaking news

Vascular Solutions, Inc. (NASDAQ: VASC) agreed to be acquired by Teleflex Incorporated (NYSE: TFX) for $56.00 per share in cash.
Ambarella Inc (NASDAQ: AMBA) posted stronger-than-expected results for its third quarter, but issued a weak revenue forecast for the current quarter. The current share repurchase plan was extended to permit the buyback of up to an aggregate of $75 million in stock through June 30, 2017.
Big Lots, Inc. (NYSE: BIG) reported upbeat earnings for its third quarter and raised its profit outlook for the year.
Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) reported better-than-expected earnings for its third quarter and lifted its outlook for the year.