Futures, commodities head lower
Evan McDaniel | email@example.com
U.S. equity futures are pointing toward a lower open despite gains by tech bellwethers Google and Microsoft after earnings reports last night.
S&P 500 futures are down 8.75 points, or 0.62 percent, to 1363.50 as of this writing. Nasdaq 100 futures are lower by 2.50 points, or 0.09 percent, to 2640.75.
European indexes are lower as well, on their way to snapping a multi-day winning streak as the euro pushes lower by 0.42 percent to 1.2233. The U.K. FTSE 100 is down 0.50 points, and the German DAX is off 0.27 percent this morning.
Asian indexes are mixed, with Hong Kong's Hang Seng adding 0.42 percent but the Nikkei 225 losing 1.43 percent, also breaking a string of positive sessions.
Commodity markets are following equities lower, with crude futures down 1.33 percent to 91.69 after trading well over 93 yesterday. Spot gold prices are lower by 4.25 points to 1576.20, but copper futures are seeing the worst of the selling, down 2 percent to 3.463.
In stock-specific news, Google is back above the $600 level as it gains more than 2.5 percent in pre-market trading, a rise of nearly $15. Microsoft shares are higher as well, by about 1.5 percent.
Shares of Chipotle Mexican Grill are plunging more than 17 percent, or nearly $69, after the company's quarterly results fell short of expectations.
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The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.
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S&P 500 futures are indicated to open fractionally lower but have been nudging higher throughout the morning. The Nasdaq is up almost two-tenths of a percent after strong numbers from Cisco.
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S&P 500 futures are little-changed, while most European indexes are posting small gains. Asian markets were mostly positive overnight, led by a 2 percent rally in Tokyo.
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German, France, and Italy will report preliminary gross domestic product numbers early in the morning, which could affect sentiment before the opening bell.
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S&P 500 futures are fractionally higher after earlier falling by more than one-tenth of a percent. Europe is also fighting its way back to positive after posting slightly larger declines.