Market Overview

US Stock Futures Down; FedEx Cuts Profit Outlook

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US stock futures are slightly lower this morning. Futures for the Dow Jones Industrial Average dropped 16 points to 13,034.00 and S&P 500 index futures fell 2.60 points to 1,403.40. Nasdaq 100 futures declined 5.25 points to 2,769.25.

US stocks closed mostly lower on Tuesday, with the Dow Jones Industrial Average dropping 0.42% to 13,035.94, the S&P 500 index falling 0.12% to 1,404.94 and the Nasdaq 100 index surging 0.26% to 3,075.06.

Data on Q2 productivity and unit-labor cost will be released at 8:30 a.m. ET.

FedEx (NYSE: FDX) lowered its profit forecast for the fiscal first quarter.

Dollar General (NYSE: DG) is projected to report its Q2 earnings at $0.64 per share on revenue of $3.96 billion. ABM Industries (NYSE: ABM) is expected to post its Q3 earnings at $0.42 per share on revenue of $1.09 billion.

G-III Apparel Group Ltd (NASDAQ: GIII) is estimated to report its Q2 EPS at $0.07 on revenue of $254.10 million. VeriFone Systems (NYSE: PAY) is expected to post its Q3 EPS at $0.70 on revenue of $498.37 million.

The Men's Wearhouse (NYSE: MW) is projected to post its Q2 EPS at $1.12 on revenue of $663.88 million. Verint Systems (NASDAQ: VRNT) is expected to post its Q2 EPS at $0.51 on revenue of $207.49 million.

Guidewire Software (NYSE: GWRE) reported upbeat fiscal fourth-quarter results. DeVry (NYSE: DV) reported that its board of directors has approved a $100 million stock repurchase program.

European markets were mostly higher today. The STOXX Europe 600 Index rose 0.26%, French CAC 40 index gained 0.22%. London's FTSE 100 Index moved down 0.07% and German DAX 30 index rose 0.69%.

Asian markets ended lower, with Japan's Nikkei Stock Average falling 1.09%, China's Shanghai Composite dropping 0.29% and Australia's S&P/ASX 200 moving down 0.64%. Hong Kong's Hang Seng index declined 1.47% and India's Sensex dipped 0.80%.

Nymex crude-oil futures dropped $0.34 to trade at $94.96 a barrel in electronic trade, while gold futures fell $2.80 to $1,693.20 an ounce.

The dollar index (DXY) climbed 0.3% to 81.587. The euro declined 0.2% versus the dollar to trade at $1.2535.

The US dollar gained 0.01% against the Japanese yen to trade at ¥78.42.

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

 

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