U.S. futures and world markets turned sharply lower Thursday after the Bank of Japan surprisingly made the decision to keep its monetary policy unchanged despite the country's stubborn economic downturn. Markets had expected the central bank to intervene.
S&P 500 and Dow Jones Industrial Average futures were both down 0.8% while the Nasdaq was falling 0.4%. In Asia, the Nikkei dropped 3.6% and the Shanghai Composite fell 0.3%. The Hang Seng was the lone Asian market to close in the green, up 0.1%. In Europe, the FTSE 100 was off 1.1%, the Dax was declining 1.3%, and the CAC 40 was 1.5% lower with about three hours left in trading.
Crude prices were also suffering Thursday morning. International benchmark Brent crude futures contracts for June delivery were down $0.12 to $47.06 per barrel while West Texas crude contracts for June delivery were falling $0.19 to $45.14 per barrel.
Turning to earnings, Trifecta Stocks holding United Parcel Service (UPS) was rising 0.4% premarket after the company reported a first-quarter profit of $1.27 per share that topped analyst expectations by a nickel. Revenue of $14.42 billion fell just short of analysts' $14.58 billion expectations.
Shares of Dividend Stock Advisor holding Ford (F) were up nearly 2% premarket after the automaker easily topping analysts' expectations for the first quarter. Ford reported EPS of $0.68 vs. analysts' consensus estimate of $0.43. Revenue of $37.7 billion also topped Wall Street's $36.1 billion projection.
Domino's Pizza (DPZ) shares were sinking more than 10% following its earnings release. The company reported EPS of $0.89 vs. analysts' consensus of $0.98. Revenue for the period advanced 7.4%, year over year, to $539.18 million, also missing consensus of $545.45 million.
Alexion Pharmaceuticals (ALXN) shares were down 4% after the company reported bottom-line results that were $0.02 worse that consensus. Revenue for the period increased 17%, year over year, to $701 million, missing estimates for $711.95 million. The company also provided full-year revenue guidance between $3.05 billion and $3.10 billion, at the low end of analysts' expectations.