US Stock Futures Are Mixed as Global Markets Sell Off

New York (Jan 14)  US stock futures were mixed on Thursday morning as global markets sold off after Wall Street's worst session in three months a day earlier.

S&P 500 futures were up 0.11%, Dow Jones Industrial Average futures gained 0.13%, and Nasdaq futures fell 0.11%.

In Europe, Germany's DAX fell 2.6%, the CAC 40 in France tumbled 2.9%, and the FTSE 100 in London slid 1.7%. On Asian markets, the Nikkei in Japan closed 2.7% lower, while the Hang Seng in Hong Kong was down 0.6%. The Shanghai Composite climbed 2%, rebounding from a loss of more than 10% a week earlier. 

U.S. stocks got hammered again on Wednesday, pushing the already beleaguered market even further into correction territory. The S&P 500 closed at its lowest level in three months. U.S. stocks suffered their worst first week to a year in history last week as fears over Chinese economic weakness spooked Wall Street and global markets.

Crude oil prices edged higher on Thursday after snapping a seven-session drop a day earlier. Commodities have been testing new 12-year lows since the beginning of the year as concerns over oversupply persisted. West Texas Intermediate was up 0.75% to $30.71 a barrel.

JPMorgan (JPM - Get Report) climbed 2% in premarket trading after fourth-quarter profit rose on a better-than-expected performance in its investment banking business. The bank earned $1.32 a share, up from $1.19 a share a year earlier and better than the $1.25 a share analysts had expected.

GoPro (GPRO - Get Report) tumbled 24% after announcing plans to cut 7% of its workforce as it continues to face weakening demand and disappointing sales. The action camera maker expects to spend $5 million to $10 million in layoff costs. GoPro also said it expects fourth-quarter sales of $435 million, below estimates of $521 million.

Goldman Sachs (GS - Get Report) is planning to cut up to 10% of its fixed-income traders and salespeoples later this quarter, according to The Wall Street Journal. The job cuts are double the annual 5% enacted in March to make way for new hires. Cuts will be focused in its debt, currencies and commodities division, areas with less opportunity since new capital regulations were introduced.

Source: TheStreet