A Peek Into The Markets: U.S. Stock Futures Tumble; All Eyes On Jobs Data

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on nonfarm payrolls and unemployment rate for January will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for January and data on factory orders for December will be released at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Austin, Texas at 1:30 p.m. ET, while San Francisco Federal Reserve Bank President John Williams will speak in San Francisco at 3:30 p.m. ET.

Futures for the Dow Jones Industrial Average dropped 247 points to 25,936.00, while the Standard & Poor’s 500 index futures fell 20 points to 2,803.25. Futures for the Nasdaq 100 index fell 36.50 points to 6,865.75.

Oil prices traded lower as Brent crude futures fell 0.20 percent to trade at $69.51 per barrel, while US WTI crude futures slipped 0.01 percent to trade at $65.80 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.35 percent, STOXX Europe 600 Index falling 0.93 percent and German DAX 30 index dropping 1.24 percent. The UK's FTSE index was trading lower by 0.35 percent, while French CAC 40 Index fell 1.23 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.90 percent, Hong Kong’s Hang Seng Index declined 0.12 percent, China’s Shanghai Composite Index gained 0.44 percent and India’s BSE Sensex dropped 2.34 percent.

Broker Recommendation

Analysts at KeyBanc downgraded Apple Inc. (NASDAQ: AAPL) from Overweight to Sector Weight.

Apple shares rose 0.58 percent to $168.75 in pre-market trading.

Breaking news

• Apple Inc. (NASDAQ: AAPL) reported better-than-expected earnings and sales for its first quarter, but issued weak Q2 guidance. The company expects Q2 sales between $60 billion-$62 billion vs. $65.7 billion estimates. Apple sold 77.3 million iPhones during the period.
• Amazon.com, Inc. (NASDAQ: AMZN) reported stronger-than-expected results for its fourth quarter.
• Alphabet Inc (NASDAQ: GOOGL) reported downbeat earnings for its fourth quarter, while sales exceeded expectations. Alphabet also announced a $8,589,056 buyback plan.
• Mattel, Inc. (NASDAQ: MAT) posted a surprise loss for its fourth quarter. The company’s revenue also missed estimates.