A Peek Into The Markets: U.S. Stock Futures Flat; Crude Oil Drops

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. The index of leading economic indicators for October is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 4 points to 23,312.00, while the Standard & Poor’s 500 index futures declined 1 point to 2,575.25. Futures for the Nasdaq 100 index rose 1.25 points to 6,314.50.

Oil prices traded lower as Brent crude futures fell 0.81 percent to trade at $62.21 per barrel, while US WTI crude futures dropped 0.34 percent to trade at $56.36 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.35 percent, STOXX Europe 600 Index climbing 0.31 percent and German DAX 30 index gaining 0.21 percent. The UK's FTSE index was trading higher by 0.01 percent, while French CAC 40 Index rose 0.28 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.60 percent, Hong Kong’s Hang Seng Index climbed 0.21 percent, China’s Shanghai Composite Index surged 0.28 percent and India’s BSE Sensex climbed 0.05 percent.

Broker Recommendation

Analysts at Wells Fargo upgraded Verizon Communications Inc. VZ from Market Perform to Outperform.

Verizon shares rose 0.99 percent to $45.87 in pre-market trading.

Breaking news

• Dycom Industries, Inc. DY reported better-than-expected profit for its first quarter, but issued a weak forecast for the current quarter.



• DBV Technologies SA – ADR DBVT disclosed positive topline safety results from the REALISE Phase III trial of Viaskin Peanut for the treatment of peanut-allergic patients.



• Marvell Technology Group Ltd. MRVL agreed to acquire Cavium Inc CAVM for around $6 billion, Reuters reported.



• UTStarcom Holdings Corp UTSI reported Q3 adjusted earnings of $0.07 per share on revenue of $26 million.