Pre-open movers
U.S. stock futures traded lower in early pre-market trade. The Chicago PMI for November will be released at 9:45 a.m. ET. New
York Federal Reserve Bank President John Williams is set to speak in New York at 9:00 a.m. ET.
Futures for the Dow Jones Industrial Average dropped 124 points to 25,267, while the Standard & Poor’s 500 index futures traded
fell 12.25 points to 2,732.00. Futures for the Nasdaq 100 index declined 32.25 points to 6,881.00.
Oil prices traded lower as Brent crude futures fell
0.89 percent to trade at $58.98 per barrel, while US WTI crude futures slipped 1.46 percent to trade at $50.70 a barrel. The Baker
Hughes North American rig count report for the recent week is schedule for release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.43 percent, STOXX Europe 600 Index dropping 0.58
percent and German DAX 30 index declined 0.65 percent. The UK's FTSE index was trading lower by 0.69 percent, while French CAC 40
Index fell 0.53 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.40 percent, Hong Kong’s Hang Seng Index gained 0.21 percent, China’s
Shanghai Composite Index climbed 0.81 percent and India’s BSE Sensex climbed 1.27 percent.
Broker Recommendation
Analysts at JP Morgan downgraded Cree, Inc. (NASDAQ: CREE) from Neutral to Underweight.
Cree shares fell 0.28 percent to close at $45.96 on Thursday.
Breaking News
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GameStop Corp. (NYSE: GME) reported
better-than-expected earnings for its third quarter, but lowered its full-year profit outlook.
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Ambarella Inc (NASDAQ: AMBA) reported
better-than-expected results for its third quarter on Thursday.
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PVH (NYSE: PVH) reported upbeat earnings
for its third quarter, while sales missed estimates. The company raised its FY18 earnings guidance.
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VMware, Inc. (NYSE: VMW) reported
stronger-than-expected results for its third quarter and raised its FY19 guidance.
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