A Peek Into The Market Before The Trading Starts
Pre-open movers
US stock futures dropped Thursday after a purchasing managers' survey signaled a slowdown in Eurozone growth, fueling investor concerns. Futures on the Dow Jones Industrial Average dropped 86 points to 10,587 and S&P 500 futures slipped 10.60 points to 1,119. Nasdaq 100 futures declined 13.50 points to 1,966.
A Peek Into Global Markets
Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 1.10%, London's FTSE 100 Index moved down 1.32%.
Most of the Asian markets ended in the positive territory, with Japan's Nikkei Stock Average losing 0.37%, Australia's S&P/ASX 200 moving up 0.11% and China's Shanghai Composite gaining 0.11%.
Broker Recommendation
Bed Bath & Beyond (NASDAQ: BBBY) reported its Q2 results yesterday and Piper Jaffray is rating the stock at Neutral with a $47 price target.
Risks to achieving the target price include macroeconomic variables that could impact financial performance, reliance on key management, and top-line trends contingent on a category resurgence in the home furnishings sector.
Bed Bath & Beyond closed Wednesday at $42.05
Breaking news
- McDonald's Corp (NYSE: MCD) has announced a hike in its quarterly dividend by 11%. To read the full news, click here.
- Texas Industries, Inc. (NYSE: TXI) today reported financial results for the quarter ended August 31, 2010. To read the full news, click here.
- Jobless claims came in worse than expected, and that was the fuel the bears needed to worsen the equity futures. To read the full news, click here.
- Cisco (NASDAQ: CSCO) today announced it has completed its acquisition of privately-held ExtendMedia. To read the full news, click here.
Read more from Benzinga's Markets.
