US: Stock slips as Futures take a beating prior to ADP


It’s going to be raining reports and addresses. Take a look at this, The ADP national employment report for February is schedule for release at 8:15 a.m. ET. The international trade report for December will be released at 8:30 a.m. ET. These two will be followed by the Federal Reserve releasing its latest Beige Book report at 2:00 p.m. ET.

These reports will also have company of some big draw addressed. First being Cleveland Federal Reserve Bank President Loretta Mester who will be making an address at 12:00 p.m. ET, while New York Federal Reserve Bank President John Williams will speak at the Economic Club of New York at 12:10 p.m. ET.

Big draws also took a southward ride . Sample this the like futures for the Dow Jones Industrial Average went down and dropped 40 points to 25,787, while the Standard & Poor’s 500 index futures fell 3.5 points to 2,788.00. Futures for the Nasdaq 100 index declined 6 points to 7,159.50.

Oil prices too traded below par as Brent crude futures fell 0.1 percent to trade at $65.80 per barrel, while US WTI crude futures fell 0.7 percent to trade at $56.14 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

The global scenario

It wasn’t just the American markets that were in for a slowdown, their European counterparts too had a similar showing. The markets were mostly lower today, with the Spanish Ibex Index rising 0.2 percent, STOXX Europe 600 Index dropping 0.01 percent and German DAX 30 index declined 0.2 percent.

In Asia too the markets showed a slow trend, Japan’s Nikkei Stock Average fell 0.6 percent, Hong Kong’s Hang Seng Index gained 0.26 percent, China’s Shanghai Composite Index surged 1.57 percent and India’s BSE Sensex rose 0.53 percent.


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