Pre-open movers
U.S. stock futures traded lower in early pre-market trade. The Federal Open Market Committee will begin two-day policy meeting
today. The Producer Price Index for February will be released at 8:30 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 27 points to 20,816.00, while the Standard & Poor’s 500 index futures fell
4 points to 2,367.75. Futures for the Nasdaq 100 index declined 7.25 points to 5,392.00.
Oil prices traded higher as Brent crude futures gained 0.74 percent to trade at $51.73 per barrel, while US WTI crude futures
rose 0.72 percent to trade at $49.29 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for
release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index falling 0.46 percent, STOXX Europe 600 Index dropping 0.11
percent and German DAX 30 index gaining 0.05 percent. The UK's FTSE index was trading higher by 0.20 percent, while French CAC 40
Index slipped 0.15 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.12 percent, Hong Kong’s Hang Seng Index declined 0.01 percent, China’s
Shanghai Composite Index rose 0.07 percent and India’s BSE Sensex rose 1.71 percent.
Broker Recommendation
Analysts at Guggenheim upgraded Walt Disney Co (NYSE: DIS) from Neutral to Buy.
Disney shares rose 0.35 percent to $111.91 in pre-market trading.
Breaking news
-
Euronet Worldwide, Inc. (NASDAQ: EEFT) proposed
to acquire Moneygram International Inc (NASDAQ: MGI) for $15.20 per share. The offer follows a $13.25 per share proposal from
Ant Financial in January.
- Bill Ackman sold his entire position of Valeant Pharmaceuticals Intl Inc (NYSE: VRX). Pershing Square, the activist investor's firm, has exited its 27.2 million
share position at $11. Ackman will also step off the company's board.
-
DSW Inc. (NYSE: DSW) reported better-than-expected
earnings for its fourth quarter, but sales missed expectations.
-
Ruby Tuesday, Inc. (NYSE: RT) disclosed that it is
exploring strategic alternatives. The company reported preliminary Q3 sales of $225.7 million.
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