Pre-open movers
U.S. stock futures traded mostly flat in early pre-market trade. Data on initial jobless claims for the latest week will be
released at 8:30 a.m. ET. Federal Reserve Bank of Cleveland President Loretta Mester is set to speak in New York at 7:00 p.m.
ET.
Futures for the Dow Jones Industrial Average gained 8 points to 21,099.00, while the Standard & Poor’s 500 index futures fell 2
points to 2,391.50. Futures for the Nasdaq 100 index slipped 0.25 points to 5,385.75.
Oil prices traded lower as Brent crude futures dropped 0.78 percent to trade at $55.92 per barrel, while US WTI crude futures
fell 0.80 percent to trade at $53.40 a barrel. The Energy Information Administration’s weekly report on natural gas stocks is
schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index dropping 0.14 percent, STOXX Europe 600 Index falling 0.04
percent and German DAX 30 index gaining 0.03 percent. The UK's FTSE index was trading lower by 0.05 percent, while French CAC 40
Index climbed 0.18 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.88 percent, Hong Kong’s Hang Seng Index declined 0.20 percent, China’s
Shanghai Composite Index fell 0.52 percent and India’s BSE Sensex fell 0.50 percent.
Broker Recommendation
Analysts at Imperial Capital downgraded Palo Alto Networks Inc (NYSE: PANW) from Outperform to In-Line and lowered the price target from $180.00 to
$137.00.
Palo Alto shares rose 0.47 percent to $115.75 in pre-market trading.
Breaking news
-
Burlington Stores Inc (NYSE: BURL) reported upbeat
results for its fourth quarter on Thursday.
-
Broadcom Ltd (NASDAQ: AVGO) reported
stronger-than-expected results for its first quarter on Wednesday.
-
Stage Stores Inc (NYSE: SSI) reported
weaker-than-expected earnings for its fourth quarter and issued a downbeat forecast for FY 2017.
-
Shake Shack Inc (NYSE: SHAK) posted in-line
earnings for its fourth quarter, while sales exceeded estimates. The company projects same-store sales growth of 2 percent-3
percent in FY17.
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