U.S. Market Futures Pointing Lower as Economic Growth Slows

U.S. stock futures are pointing lower in pre-market trading for Wednesday, September 7. The Dow Futures are at 18521.0 for a loss of -2.00 points. The S&P 500 Futures are at 2183.75 for a loss of -0.75 points. The Nasdaq Futures are at 4833.25 for a gain of 5.75 points. The Russell Futures are at 1253.0 for a loss of -0.40 points.

In overnight trading in the Eastern Hemisphere, Japan’s Nikkei 225 is at 17012.44 for a loss of -69.54 points or -0.41 percent. Hong Kong’s Hang Seng Index is at 23741.81 for a loss of -45.87 points or -0.19 percent. China’s Shanghai Composite Index is at 3091.93 for a gain of 1.22 points or 0.04 percent. India’s S&P BSE Sensex is at 28926.36 for a loss of -51.66 points or -0.18 percent. In Europe, the FTSE 100 is at 6834.32 for a gain of 8.27 points or 0.12 percent. Germany’s DAX is at 10724.59 for a gain of 37.45 points or 0.35 percent. France’s CAC 40 is at 4541.38 for a gain of 11.42 points or 0.25 percent. The Stoxx Europe 600 is at 349.79 for a gain of 0.33 points or 0.09 percent.

Wednesday’s Factors and Events

The market futures are pointing mostly lower on Wednesday as economic growth appears to be slowing. On Tuesday the ISM Non-Manufacturing Index, which reports on the U.S. economy’s services sector, was down over 4 points from the previous month at 51.4. The lower ISM Non-Manufacturing Index report also combined with last week’s weaker data in the manufacturing sector. In August, the PMI Manufacturing Index was lower at 52.0 versus 52.9. The ISM Manufacturing Index was also lower with the Index falling to 49.4 in August from 52.6 in July.

On Wednesday leading economic data reports include the following: MBA Mortgage Applications, Gallup U.S. Job Creation Index, the PMI Services Index and the Beige Book.

Stocks trading actively in the pre-market include the following:

FMC Corp

Urban Outfitters

Charles Schwab

EOG Resources Inc

Johnson Controls Inc


On Wednesday, Apple will be on watch as it debuts its iPhone 7. Fed officials will also be in focus as Jeffrey Lacker and Esther George testify at the House Financial Services Panel on Governance, Monetary Policy and Economic Performance in the morning. In the afternoon the Fed will also release its Beige Book which provides greater insight on its view of the economy.

Tuesday’s Activity

On Tuesday, stocks were mostly higher. For the day the Dow Jones Industrial Average closed at 18538.12 for a gain of 46.16 points or 0.25 percent. The S&P 500 was also higher, closing at 2186.48 for a gain of 6.50 points or 0.30 percent. The Nasdaq Composite closed higher at 5275.91 for a gain of 26.01 points or 0.50 percent.


Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes included the small-cap Russell 2000 Index, higher at 1253.37 for a gain of 1.54 points or 0.12 percent; the S&P 600 Small-Cap Index, lower at 760.43 for a loss of -1.44 points or -0.19 percent; the S&P 400 Mid-Cap Index, closing at 1576.04 for a loss of -2.64 points or -0.17 percent; the S&P 100 Index at 966.84 for a gain of 3.17 points or 0.33 percent; the Russell 3000 Index at 1294.76 for a gain of 3.54 points or 0.27 percent; the Russell 1000 Index at 1212.40 for a gain of 3.47 points or 0.29 percent; and the Dow Jones U.S. Select Dividend Index at 621.41 for a gain of 2.47 points or 0.40 percent.

Julie Young


Julie Young is a Senior Market Reporter and Analyst

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