Pre-open movers
U.S. stock futures traded lower in early pre-market trade. The Consumer Price Index for October, data on retail sales for
October and the Empire State manufacturing index for November will be released at 8:30 a.m. ET. Data on business inventories for
September will be released at 10:00 a.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in Boston at 4:00
p.m. ET.
Futures for the Dow Jones Industrial Average tumbled 137 points to 23,238.00, while the Standard & Poor’s 500 index futures
slipped 14.50 points to 2,563.50. Futures for the Nasdaq 100 index fell 32.75 points to 6,260.75.
Oil prices traded lower as Brent crude futures fell 1.13 percent to trade at $61.51 per barrel, while US WTI crude futures
declined 1.04 percent to trade at $55.12 a barrel. The Energy Information Administration’s weekly report on petroleum inventories
in the U.S. is schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.75 percent, STOXX Europe 600 Index slipping 0.96
percent and German DAX 30 index dropping 1.29 percent. The UK's FTSE index was trading lower by 0.56 percent, while French CAC 40
Index fell 0.59 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 1.57 percent, Hong Kong’s Hang Seng Index declined 1.03 percent, China’s
Shanghai Composite Index dipped 0.79 percent and India’s BSE Sensex declined 0.55 percent.
Broker Recommendation
Analysts at Jefferies downgraded Smart Sand Inc (NASDAQ: SND) from Buy to Hold.
Smart Sand shares fell 0.82 percent to close at $8.42 on Tuesday.
Breaking news
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Beazer Homes USA, Inc. (NYSE: BZH) reported
better-than-expected results for its fourth quarter on Tuesday.
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SAGE Therapeutics Inc (NASDAQ: SAGE) priced its
3.5 million share public offering of common stock at $85 per share.
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Sorl Auto Parts, Inc. (NASDAQ: SORL) reported
strong results for its third quarter. The company reported Q3 EPS of 44 cents, up from 17 cents in the same quarter of last
year. The company reported sales of $101.33 million, up from $63.7 million in the same quarter of last year.
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Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN)
reported a proposed secondary offering of common stock.
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