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A Peek Into The Markets: U.S. Stock Futures Drop Ahead Of Jobless Claims

Sprint Nextel Corporation NYSE:S, Tiffany & Co. NYSE:TIF - A Peek Into The Markets: U.S. Stock Futures Drop Ahead Of Jobless Claims

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on durable goods orders for July and initial jobless claims for the latest week will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 42 points to 18,430.00, while the Standard & Poor’s 500 index futures fell 5 points to 2,170.00. Futures for the Nasdaq 100 index declined 10.75 points to 4,775.50.

Oil prices traded lower as Brent crude futures declined 0.61 percent to trade at $48.75 per barrel, while US WTI crude futures also fell 0.66 percent to trade at $46.46 a barrel. The Energy Information Administration’s weekly report on natural gas stocks 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 dropping 0.90 percent, STOXX Europe 600 Index falling 0.96 percent and German DAX 30 index dropping 1.01 percent. The UK's FTSE index was trading lower by 0.26 percent, while French CAC 40 Index declined 0.92 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.25 percent, Hong Kong’s Hang Seng Index rose 0.03 percent, China’s Shanghai Composite Index declined 0.57 percent and India’s BSE Sensex fell 0.8 percent.

Broker Recommendation

Sprint shares fell 3.12 percent to $5.90 in pre-market trading.

Breaking news

  • Tiffany & Co. TIF produced mixed results for the second quarter. While its earnings came in above the estimates, sales missed expectations. The company maintained its full year revenue and EPS forecast. To read the full news, click here.
  • Berry Plastics Group, Inc. BERY and AEP Industries Inc. AEPI reached a definitive deal by which the former would buy the latter in a cash and stock transaction worth about $765 million. To read the full news, click here.
  • HP Inc HPQ reported upbeat results for its third quarter, but issued a weak profit guidance for the current quarter. To read the full news, click here.

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