Market Overview

US Stock Futures Down; Alcoa Earnings In Focus

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US stock futures are lower this morning. Futures for the Dow Jones Industrial Average dropped 62 points to 12,665.00 and S&P 500 index futures fell 6.50 points to 1,345.30. Nasdaq 100 futures declined 7.50 points to 2,601.50.

US stocks closed lower on Friday, with the Dow Jones Industrial Average dropping 0.96% to 12,772.47, the S&P 500 index falling 0.94% to 1,354.68 and the Nasdaq 100 index declining 1.30% to 2,937.33.

Data on May consumer credit will be released at 3 p.m. ET.

Alcoa (NYSE: AA) is projected to post its Q2 earnings at $0.05 per share on revenue of $5.83 billion. WD-40 (NASDAQ: WDFC) is projected to post its FQ3 earnings at $0.61 per share on revenue of $91.6 million.

A. Schulman (NASDAQ: SHLM) is estimated to post its Q3 EPS at $0.62 on revenue of $565.60 million. PriceSmart (NASDAQ: PSMT) is expected to post its Q3 earnings at $0.60 per share on revenue of $510.7 million.

FTI Consulting (NYSE: FCN) announced its plans to cut around 3% of its total workforce.

Best Buy (NYSE: BBY) announced its plans to lay off 2,400 workers.

European markets were lower today. The STOXX Europe 600 Index fell 0.32%, London's FTSE 100 Index dropped 0.36%, French CAC 40 Index declined 0.57% and German DAX 30 index fell 0.12%.

Asian markets ended lower, with Japan's Nikkei Stock Average falling 1.37%, China's Shanghai Composite dropping 2.37% and Australia's S&P/ASX 200 dropping 0.93%. Hong Kong's Hang Seng Index dropped 1.88% and India's Sensex fell 0.74%.

Nymex crude-oil futures gained $0.31 to trade at $84.76 a barrel in electronic trade, while gold futures climbed $3 to $1,581.90 an ounce.

The dollar index declined 0.1% to 83.31. The US dollar fell 0.1% versus the Japanese yen to trade at 79.57 yen.

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

 

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