Pre-open movers
U.S. stock futures traded lower in early pre-market trade. J C Penney Company Inc (NYSE: JCP) is projected to report quarterly earnings before the opening bell. The Consumer
Price Index for April is schedule for release at 8:30 a.m. ET. Data on retail sales for April and business inventories for March
will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for May is schedule for release at 10:00
a.m. ET. Chicago Federal Reserve President Charles Evans is set to speak at the 56th ACI Financial Markets Association World
Conference in Dublin, Ireland at 9:00 a.m. ET, while Philadelphia Federal Reserve Bank President Patrick T. Harker will speak in
Philadelphia at 12:30 p.m. ET.
Futures for the Dow Jones Industrial Average tumbled 37 points to 20,833.00, while the Standard & Poor’s 500 index futures
declined 6 points to 2,385.00. Futures for the Nasdaq 100 index slipped 10.75 points to 5,660.00.
Oil prices traded lower as Brent crude futures fell 0.10 percent to trade at $50.72 per barrel, while US WTI crude futures
declined 0.15 percent to trade at $47.76 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 higher today, with the Spanish Ibex Index gaining 0.01 percent, STOXX Europe 600 Index rising 0.01
percent and German DAX 30 index gaining 0.11 percent. The UK's FTSE index was trading higher by 0.10 percent, while French CAC 40
Index slipped 0.03 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.39 percent, Hong Kong’s Hang Seng Index rose 0.12 percent, China’s
Shanghai Composite Index surged 0.72 percent and India’s BSE Sensex fell 0.21 percent.
Broker Recommendation
Analysts at Cantor Fitzgerald upgraded Trade Desk Inc (NASDAQ: TTD) from Neutral to Overweight.
Trade Desk shares gained 22.3 percent to $48.80 in pre-market trading.
Breaking news
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ArcelorMittal SA (ADR) (NYSE: MT) reported net income
of $1 billion on revenue of $16.09 billion in the first quarter.
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CA, Inc. (NASDAQ: CA) reported
stronger-than-expected earnings for its fourth quarter on Thursday.
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Cyberark Software Ltd (NASDAQ: CYBR) reported
better-than-expected results for its firs quarter, but issued a weak earnings forecast. The company also announced the
acquisition of Conjur for $42 million.
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Nordstrom, Inc. (NYSE: JWN) posted upbeat earnings
for its first quarter, while same-store sales missed estimates.
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