A Peek Into The Market Before The Trading Starts
Pre-open movers
The US stock futures index dipped today following a sell-off in the previous session that erased most of the gains of the year. While futures on the Dow Jones Industrial Average fell by 82.00 points to 10,255, those on the Nasdaq 100 lost 22.75 points to 1,815. Meanwhile, S&P 500 futures dropped 11.40 points to 1,074.
A Peek Into Global Markets
Negative sentiments ruled the European markets today, with automakers Daimler (OTC: DDAIF) and Peugeot (OTC: PEUGY) losing the most in the list. While STOXX Europe 600 Index has lost 0.17%, London’s FTSE 100 Index moved down 0.18%.
All the Asian markets ended in the negative territory, with Japan's Nikkei Stock Average losing 0.86%, Australia's S&P/ASX 200 moving down 1.28% and China's Shanghai Composite falling 1.23%.
Broker Recommendation
Analysts at Goldman Sachs reiterated their “neutral” rating on shares of Cisco Systems (NASDAQ: CSCO), kept their price target of $25 intact.
In the report, Goldman Sachs states, "From a macro perspective, Cisco’s comments on 'mixed signals' from customers and 'unusual uncertainty' are consistent with our view that the cyclical uplift in CommTech has played out, and that secular trends will drive performance from here."
Breaking news
- Perrigo Company (NASDAQ: PRGO) reports its Q4 adjusted EPS at $0.71, beating the consensus of $0.68. To read the full news, click here.
- American International Group Inc (NYSE: AIG) has started talks with potential investors to sell stakes in its Asian life insurance business AIA ahead of AIA's planned IPO, sources with direct knowledge of the matter said. To read the full news, click here.
- Estée Lauder (NYSE: EL) reports its Q4 EPS, ex-items, at $0.24, falling short of the consensus of $0.30. To read the full news, click here.
- Tim Hortons (NYSE: THI) reports its Q2 EPS at $0.54, beating the consensus of $0.48. To read the full news, click here.
Read more from Benzinga's Markets.
