(MENAFN- ProactiveInvestors) U.S. stock futures were lower in early trading Friday after five straight sessions of losses on Wall Street with yesterday's Swiss currency move continuing to roil markets and as shares of fell after disappointing results.
According to new data from investors pulled $4.1 billion out of U.S. stock funds in the latest week the second straight week of net outflows.
Futures on the three major US indexes were down between 0.5% and 0.7% as of 8:20am ET but trimmed losses after data. The Dow plunged 106 points on Thursday after the Swiss National Bank unexpectedly scrapped its long-standing floor against the euro.
On the economic calendar in the US today the government released the consumer price index for December which posted its biggest drop in six years falling 0.4% last month as expected led by energy. Core consumer prices excluding food and energy remained unchanged.
In addition to consumer prices investors will also get a read on manufacturing with industrial production and capacity utilization data for December. Preliminary figures on January consumer sentiment are also out at 10:00am ET and are expected to show a reading of 94.4 following the prior 93.6 level.
Oil prices rebounded this morning after the International Energy Agency said non-OPEC oil producers will increase output this year at a slower rate than previously forecast rebalancing the over-supplied global markets in the second half of 2015. WTI crude for February delivery rose 67 cents to $46.90 a barrel in New York trading.
In corporate activity () slid premarket after the company's fourth quarter profit fell over 7% as revenue from trading and investment banking dropped. The bank turned in the sharpest year-over-year drop in fixed income currencies and commodities trading from the US invesment banks that have reported fourth quarter results so far.
() shares edged down even after reporting quarterly earnings and revenue that topped forecasts as first quarter guidance was slightly disappointing.
(LB) said it is planning to cut 9000 jobs or about 7% of its workforce amid declining oil prices.
(NYSE:) is facing fines for its Gulf oil spill of up to $13.7 billion about 22% less than the maximum after a judge ruled the size of the disaster was smaller than initially feared.
EU regulators said Amazon's () tax arrangements in Luxembourg may violate EU law giving the US e-commerce giant an illegal advantage over competitors.
() extended losses falling another 16% premarket after a 35% plunge on Thursday as new reports said the electronics chain is in active talks with Sprint () to sell the leases for some of its stores. Bloomberg also confirmed the scoop from the Wall Street Journal yesterday that the company is preparing for a bankruptcy filing as soon as next month.
Shares of Wet Seal (NASDAQ:WTSL) also tumbled premarket after the teen apparel retailer voluntarily filed for Chapter 11 bankruptcy protection.
European markets edged mostly lower today as Swiss stocks stumbled for a second day following the Swiss National Bank's surprise move to abandon the franc's euro cap. Asian markets also mostly closed in the red with Japan's Nikkei settling down 1.4%. Gold futures were virtually flat at $1265 an ounce in New York.
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