Market Overview

A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dipped 38 points to 12,912.00 and S&P 500 index futures fell 3.90 points to 1,382.00. Nasdaq 100 futures dropped 5.75 points to 2,733.00.

A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index declined 0.64%, London's FTSE 100 Index moved down 0.42%, French CAC 40 index fell 0.80% and German DAX 30 index dropped 0.70%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 1.19%, China's Shanghai Composite rising 0.35% and Australia's S&P/ASX 200 moving up 0.97%. Hong Kong's Hang Seng index gained 1.84% and India's Sensex dropped 1.37%.

Broker Recommendation Analysts at Morgan Stanley upgraded Dover Corp (NYSE: DOV) from “underweight” to “equal-weight.” The target price for Dover has been raised from $64 to $65.

Dover shares closed at $60.86 yesterday.

Breaking news

  • Regis Corporation (NYSE: RGS) today announced that it has entered into an agreement with members of the Provost family to sell Regis' minority ownership interest in Provalliance, the largest hair salon company in Europe. To read the full news, click here.
  • Zhongpin Inc. (NASDAQ: HOGS) today announced that it has established a special committee of its board of directors to consider the preliminary, non-binding proposal received from Zhongpin's Chairman and Chief Executive Officer, Mr. Xianfu Zhu, on March 27, 2012 to acquire all of the outstanding shares of the Company's common stock not currently owned by him in a going private transaction. To read the full news, click here.
  • iGate Corp (NASDAQ: IGTE) reported a better-than-expected first-quarter profit. To read the full news, click here.
  • After a preliminary review of its first quarter 2012 performance, SAP AG (NYSE: SAP) today announced its preliminary financial results for the first quarter ended March 31, 2012. To read the full news, click here.

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

 

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