Pre-open movers
U.S. stock futures traded slightly lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for December
and the international trade report for November will be released at 8:30 a.m. ET. Data on factory orders for November will be
released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 11:15 a.m. ET, while
Dallas Federal Reserve Bank President Robert Kaplan will speak at the American Economic Association's annual meeting in Chicago at
3:30 p.m. ET.
Futures for the Dow Jones Industrial Average dropped 12 points to 19,809.00, while the Standard & Poor’s 500 index futures fell
1 point to 2,263.50. Futures for the Nasdaq 100 index rose 1 point to 4,963.00.
Oil prices traded higher as Brent crude futures gained 0.86 percent to trade at $57.38 per barrel, while US WTI crude futures
also rose 0.82 percent to trade at $54.20 a barrel. The Baker Hughes North American rig count report for the latest week will be
released at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index dropping 0.04 percent, STOXX Europe 600 Index falling 0.20
percent and German DAX 30 index dropping 0.08 percent. The UK's FTSE index was trading lower by 0.11 percent, while French CAC 40
Index fell 0.25 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.34 percent, Hong Kong’s Hang Seng Index rose 0.21 percent, China’s
Shanghai Composite Index declined 0.35 percent and India’s BSE Sensex dropped 0.44 percent.
Broker Recommendation
Analysts at UBS downgraded McDonald's Corporation (NYSE: MCD) from Buy to Neutral.
McDonald's shares fell 0.93 percent to $118.59 in pre-market trading.
Breaking news
-
Greenbrier Companies Inc (NYSE: GBX) reported
weaker-than-expected earnings for its first quarter on Friday.
-
Meredith Corporation (NYSE: MDP) is said to have
contacted Time Inc (NASDAQ: TIME) to express
interest in a potential merger, according to sources as reported by Bloomberg. A group headed by Edgar Bronfman Jr. offered
$18.00 per share, according to the NY Post and that offer was rejected.
-
G-III Apparel Group, Ltd. (NASDAQ: GIII) lowered
its guidance for FY17.
-
Gap Inc. (NYSE: GPS) reported a 2 percent
year-over-year gain in its comparable sales for the November and December 2016 holiday season. Gap comparable sales for
December rose 4 percent, compared to a 5 percent decline last year.
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