U.S. stock futures traded lower in early pre-market trade after the Dow Jones jumped more than 400 points in the previous session. Investors are awaiting earnings results from Target Corporation (NYSE: TGT), Lowe’s Companies, Inc. (NYSE: LOW) and Cisco Systems, Inc. (NASDAQ: CSCO).
Data on housing starts and permits for April will be released at 8:30 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak at 4:00 p.m. ET.
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Futures for the Dow Jones Industrial Average dipped 90 points to 32,491.00 while the Standard & Poor’s 500 index futures fell 17.25 points to 4,067.50. Futures for the Nasdaq index fell 90 points to 12,470.25
Oil prices traded higher as Brent crude futures rose 0.7% to trade at $112.70 per barrel, while US WTI crude futures rose 1% to trade at $113.57 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.