Market Overview

US Stock Futures Signal Lower Start On Wall Street

US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dipped 76 points to 12,067.00 and S&P 500 index futures fell 9.10 points to 1,243.90. Nasdaq 100 futures dropped 14.75 points to 2,303.75.

US stocks closed higher on Friday, with the Dow Jones Industrial Average surging 1.55% to 12,184.26, the S&P 500 index rising 1.69% to 1,255.19 and the Nasdaq 100 index gaining 1.94% to 2,646.85.

The US Federal Reserve's Federal Open Market Committee is scheduled to hold a monetary-policy meeting on Tuesday.

Quanex Building Products Corporation (NYSE: NX) is expected to report its Q4 EPS at $0.23 on revenue of $246.68 million. Spartech Corporation (NYSE: SEH) is estimated to post its Q4 EPS at $0.03 on revenue of $282.40 million.

Investors Real Estate Trust (NASDAQ: IRET) is projected to post its Q2 EPS at $0.16 on revenue of $60.77 million.

ABB Ltd (NYSE: ABB) announced its plans to buy Newave Energy Holding SA for about 170 million Swiss francs ($183 million) in cash.

Shares of Blue Coat Systems Inc (NASDAQ: BCSI) jumped 43.65% on Friday after the compay agreed to sell itself to private equity investment firm Thoma Bravo and others for around $1.3 billion, or $25.81 per share.

Shares of Cooper Companies Inc (The) (NYSE: COO) jumped 16.59% on Friday after the company issued upbeat fiscal 2012 earnings forecast.

European markets were lower today. The STOXX Europe 600 Index dropped 0.99%, London's FTSE 100 Index moved down 0.62%, French CAC 40 index fell 1.35% and German DAX 30 index dipped 1.87%.

Asian markets ended mixed, with Japan's Nikkei Stock Average gaining 1.3748%, Australia's S&P/ASX 200 moving up 1.11% and China's Shanghai Composite declining 1.02%. Hong Kong's Hang Seng Index fell 0.0569% and India's Sensex dipped 2.12%.

The euro dipped 0.89% versus the dollar to trade at $1.3263. The dollar index (DXY) surged 0.73% to 79.17.

Gold futures, with the February contract tumbled 1.88% to $1,684.50 an ounce in electronic trading on Globex. January crude-oil futures fell 1.34% to $98.11 a barrel.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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