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A Peek Into The Markets: U.S. Stock Futures Decline Ahead Of ADP Report

A Peek Into The Markets: U.S. Stock Futures Decline Ahead Of ADP Report - Zynga Inc. NASDAQ:ZNGA, EA

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The ADP national employment report for July will be released at 8:15 a.m. ET, while the Markit Services PMI for July is schedule for release at 9:45 a.m. ET. The ISM non-manufacturing index for July will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 43 points to 18,205.00, while the Standard & Poor’s 500 index futures declined 5 points to 2,147.75. Futures for the Nasdaq 100 index fell 11 points to 4,702.25.

Oil prices traded higher as Brent crude futures rose 0.33 percent to trade at $41.94 per barrel, while US WTI crude futures also rose 0.40 percent to trade at $39.67 a barrel. The Energy Information Administration’s weekly report on petroleum inventories 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 0.05 percent, STOXX Europe 600 Index declining 0.11 percent and German DAX 30 index dropping 0.09 percent. The UK's FTSE index was trading lower by 0.25 percent, while French CAC 40 Index declined 0.49 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.88 percent, Hong Kong’s Hang Seng Index dropped 1.76 percent, China’s Shanghai Composite Index gained 0.24 percent and India’s BSE Sensex fell 1.02 percent.

Broker Recommendation

Zynga shares rose 4.56 percent to $2.98 in pre-market trading.

Breaking news

  • Electronic Arts Inc. EA reported better-than-expected earnings for its first quarter, but the company issued a weak revenue forecast for the current quarter. To read the full news, click here.
  • Investors of Kate Spade & Co KATE weren't too happy with the outlook provided by it though its second quarter results topped estimations. The company reported Income from continuing operations of $25 million or $0.19 per share in the second quarter, which was sharply higher than $9 million or $0.07 per share recorded n the year-ago period. Its earnings per share from continuing operations using a normalized tax rate were $0.11, up from $0.08 in the second quarter of 2015. Street analysts expected the company to deliver an EPS of $0.14. To read the full news, click here.
  • RR Donnelley & Sons Co RRD delivered better-than-expected Q2 numbers. The company also looks at high end of its adjusted EBITDA margin for the full year. To read the full news, click here.

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