US Stock Futures Indicate Troubled Day For Broader Market
US stock-index futures seesawed between gains and losses today, indicating a troubled day for broader market after a three-day rally. While futures on Dow Jones Industrial Average lost 7 points, those on S&P 500 added a half point to 1,067.50. Meanwhile, Nasdaq 100 futures slipped a quarter point to 1,797.70.
Analysts at Charles Gawlak & Associates feel, "Overall, it would probably not be a surprise to see some profit taking on Friday, the question is whether the markets are moving toward a possible reversal already."
Investors have nothing more than wholesale inventories figure for the month of May to look forward to. On Monday, Alcoa (NYSE: AA) will kick off the earnings season when it reports its results after the market closes. Investors are generally enthusiastic about the earnings period after US bank State Street (NYSE: STT) issued a positive outlook.
On the corporate front, Google (NASDAQ: GOOG), Baidu (NASDAQ: BIDU), GlaxoSmithKline (NYSE: GSK), Madison Square Garden (NYSE: MSG) and Airgas (NYSE: ARG) are hogging the limelight.
While GOOG advanced 3.3% in premarket after it announced that its license has been renewed by the Chinese government, BIDU fell as much as 7.2%.
Overseas, while the Asian stocks ended up higher, gains in the European bourses were muted.
Read more from Benzinga's Markets.
