U.S. stock futures traded lower in early pre-market trade. US Services Purchasing Managers' Index for December is schedule for release at 9:45 a.m. ET.
Futures for the Dow Jones Industrial Average dipped 170 points to 28,432 while the Standard & Poor’s 500 index futures traded fell 19.2 points to 3,216.25. Futures for the Nasdaq 100 index declined 63 points to 8,747.00.
Oil prices traded higher as Brent crude futures rose 1.5% to trade at $69.60 per barrel, while US WTI crude futures rose 1.2% to trade at $63.78 a barrel.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 1%, STOXX Europe 600 Index declining 1.1% and German DAX 30 index dropping 1.6%. The UK's FTSE index was trading lower by 1%, while French CAC 40 Index fell 1.2%.
In Asian markets, Japan’s Nikkei Stock Average fell 1.91%, Hong Kong’s Hang Seng Index dropped 1.79%, China’s Shanghai Composite Index fell 0.01% and India’s BSE Sensex fell 1.9%.
Analysts at Needham downgraded Apple Inc. (NASDAQ: AAPL) from Strong Buy to Buy and raised the price target from $280 to $350.
Apple shares fell 1% to $294.50 in pre-market trading.
- Capstone Turbine Corporation (NASDAQ: CPST) issued soft preliminary Q3 guidance. The company said it expects preliminary sales of $17.4 million, versus analysts’ estimates of $20.74 million.
- Elanco Animal Health Incorporated (NYSE: ELAN) signed an agreement with Dechra to divest Osurnia to Dechra Pharmaceuticals PLC for $135 million in cash.
- AMCON Distributing Co (NYSE: DIT) reported a strategic investment in Team Sledd.
- Tremor International Ltd announced plans to acquire News Corp's Unruly.