U.S. futures are down slightly in trading on Friday, following world markets lower and piling on to the losses the major indices experienced Thursday.
The Nasdaq was the biggest loser in the previous session, falling more than 1%, while the S&P 500 and Dow Jones Industrial Average were down 0.5% and 0.3%, respectively.
Today, markets across the globe as also faltering. In Asia, the Nikkei closed trading down 1.4%, the Hang Seng dropped 0.4%, and the Shanghai Composite fell 0.1%. In Europe, the CAC 40 is down 0.9%, the DAX is declining 0.8% and the FTSE 100 was falling 0.5%.
Declining crude prices are helping drive the markets down. International benchmark Brent crude contracts for April delivery were dropping $0.63 to $33.65 per barrel while West Texas crude contracts for March delivery were down $0.68 to $30.09 per barrel.
Among U.S. securities, Yahoo! (YHOO) shares were rising after the company announced that its board of directors formed an independent committee to explore strategic alternatives along with its previously announced consideration of a reverse spin. "The Board is thoroughly committed to exploring strategic alternatives while simultaneously supporting management and the employees in their implementation of Yahoo's strategic plan," said Yahoo! Chairman Maynard Webb in a press release.
(Vote in our Real Money Yahoo! poll.)
Nordstom (JWN) was tanking premarket -- down 8% -- after the retailer missed analysts' top and bottom line expectations. Weak holiday season results were partially responsible for the underwhelming quarter.
Deere & Co. (DE) shares were falling after the company beat analysts' bottom line first-quarter expectations, but also cut its full-year economic outlook. The company lowered its earnings forecast to $1.3 billion from $1.4 billion as equipment sales are expected to fall 10% this fiscal year.
V.F. Corp. (VFC) shares were dropping 9% before the bell after missing on all three major quarterly financial indicators. The company missed analysts' top- and bottom-line forecasts and guided downside full-year financial results.
Finally, on Jim Cramer's Mad Money program yesterday, Cramer told his viewers that he is bullish on McDonald's (MCD) and Action Alerts PLUS holdings Jack in the Box (JACK) and Panera Bread (PNRA) ¿ both of which Cramer said were too cheap to ignore.
Clorox (CLX), Cisco Systems (CSCO) and fellow AAP holding WhiteWave Foods (WWAV) are also on Cramer's shopping list.