Market Overview

US Stock Futures Down; JPMorgan Shares Drop In Pre-Market Trading

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US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dipped 62 points to 12,772.00 and S&P 500 index futures fell 7.10 points to 1,350.50. Nasdaq 100 futures dropped 7.50 points to 2,611.25.

US stocks closed mixed on Thursday, with the Dow Jones Industrial Average surging 0.16% to 12,855.04, the S&P 500 index rising 0.25% to 1,357.99 and the Nasdaq 100 index dropping 0.04% to 2,933.64.

The April producer-price index will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for May will be released at 9:55 a.m. ET.

NVIDIA Corporation (NASDAQ: NVDA) is projected to post its Q1 EPS at $0.10 on revenue of $916.17 million. Cache Inc (NASDAQ: CACH) is estimated to post a Q1 loss at 0.09 per share on revenue of $54.64 million.

ReneSola Ltd (NYSE: SOL) is expected to post a Q1 loss at $0.31 per share on revenue of $177.60 million. Gordmans Stores Inc (NASDAQ: GMAN) is estimated to post its Q1 EPS at $0.41 on revenue of $131.56 million. Doral Financial Corporation (NYSE: DRL) is projected to post its Q1 EPS at $0.79 on revenue of $50.73 million.

Nordstrom Inc (NYSE: JWN) reported its Q1 earnings at $0.70 per share on revenue of $2.54 billion. However, analysts were expecting a profit of $0.75 per share on sales of $2.52 billion.

Express Scripts Holding Co (NASDAQ: ESRX) posted its adjusted profit at $0.79 per share on revenue of $12.13 billion in the first quarter. However, analysts were estimating earnings of $0.77 per share on sales of $11.47 billion.

W.W. Grainger Inc (NYSE: GWW) is scheduled to report sales for April.

Shares of JPMorgan Chase & Co (NYSE: JPM) dropped about 6.2% in pre-market trading after the company revealed a trading loss of $2 billion in its synthetic credit portfolio.

European markets were lower today. The STOXX Europe 600 Index dropped 0.55%, London's FTSE 100 Index moved down 0.38%, French CAC 40 index fell 0.49% and German DAX 30 index declined 0.39%.

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 0.63%, Australia's S&P/ASX 200 moving down 0.25% and China's Shanghai Composite dropping 0.63%. Hong Kong's Hang Seng Index fell 1.30% and India's Sensex declined 0.77%. China's industrial output climbed 9.3% in April. The country's retail sales surged 14.1%.

Nymex crude-oil futures declined $1.06 to $96.02 a barrel. However, gold futures fell $17.80 to $1,577.70 an ounce.

The dollar index (DXY) rose to 80.300, versus 80.159 in North American trade late Thursday.

The euro gained 0.13% versus the dollar to trade at $1.2953, up from $1.2943 late Thursday.

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

 

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