US stock futures traded lower in early pre-market trading on Thursday after the Dow Jones fell more than 200 points in the previous session. Investors are waiting for earnings results Morgan Stanley M.S And JPMorgan Chase & Co. JPM.
The Producer Price Index for June is scheduled for release at 8:30 am ET. Producer prices are expected to increase by 0.8% in June to match growth in May. However, the annual rate decreased from 10.8% to 10.4%. Initial jobless claims data for the latest week will be released at 8:30 am ET.
Twitter shares are up about 8%, here are the 66 biggest movers since yesterday
Futures of the Dow Jones Industrial Average shed 308 points to 30,450.00, while S&P 500 Index futures fell 41 points to 3,763.50. Nasdaq futures fell 110.25 points to 11,652.00.
Oil prices traded lower as Brent crude futures fell 2% to $97.59 a barrel, while US WTI crude futures fell 2.4% to trade at $97.59 a barrel. The Energy Information Administration’s weekly report on natural gas inventories in underground storage will be released at 10:30 a.m. ET.
The US has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 90,909,760 and nearly 1,047,790 deaths. India has reported a total of 43,689,980 confirmed cases, while Brazil has over 33,076,770 confirmed cases.
A peek into global markets
European markets are lower today. The STOXX Europe 600 index fell 0.7%, London’s FTSE 100 fell 0.7% and Spain’s IBEX 35 index fell 1.1%. The French CAC 40 index fell 0.8%, while the German DAX fell 0.6%. Wholesale prices in Germany rose 21.2% year-on-year in June after a 22.9% increase in the previous month.
Asian markets traded mostly lower today. Japan’s Nikkei 225 was down 0.62%, China’s Shanghai Composite was down 0.08% and Hong Kong’s Hang Seng index was down 0.22%. Australia’s S&P/ASX 200 rose 0.4%, while India’s S&P BSE Sensex fell 0.2%. The annual wholesale price inflation rate in India eased to 15.18% in June from 15.88% in the previous month, while total passenger vehicle sales in the country rose 9.9% from the previous month to 275,788 units in June. Industrial production in Japan fell by 7.5% month-on-month in May. Australian seasonally adjusted unemployment fell to a new record high of 3.5% in June.
Trust securities initiated coverage Tesla, Inc. TSLA announced with a Buy rating and a $1000 price target.
Tesla shares fell 1.1% to $703.00 in pre-market trading.
Check Out: JP Morgan, Morgan Stanley and 3 Stocks to Watch Thursday Headline
- The US Food and Drug Administration granted emergency use authorization Novavax, Inc NVAX Lead candidate adjuvanted (NVX-CoV2373) COVID-19 vaccine for individuals 18 years of age and older.
- Tesla, Inc. TSLA Battery supplier Panasonic Holdings Corporation PCRFY The subsidiary has zeroed in the US state of Kansas to build its second US lithium-ion battery manufacturing plant.
- Agenta, Inc. AZTA It said it sees preliminary adjusted earnings of $0.08 to $0.12 per share on sales of $133 million for the third quarter.
- Bellous Health Inc. Blu It has priced its 16.54 million share public offering at US$9.25 per share.
Check out other breaking news here