Market Overview

US Stock Futures Down; World Bank Lowers China Growth Forecast

US Stock Futures Down; World Bank Lowers China Growth Forecast
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US stock futures are lower this morning, after the World Bank lowered its China growth outlook. Futures for the Dow Jones Industrial Average dipped 44 points to 13,492.00 and S&P 500 index futures fell 5 points to 1,450.50. Nasdaq 100 futures dropped 12.75 points to 2,791.50.

US stocks closed mixed on Friday, with the Dow Jones Industrial Average rising 0.26% to 13,610.15, the S&P 500 index dropping 0.03% to 1,460.93 and the Nasdaq 100 index falling 0.32% to 3,136.19.

AngioDynamics (NASDAQ: ANGO) is projected to report its FQ1 earnings at $0.09 per share on revenue of $84.4 million. Tortoise Capital Resources (NYSE: TTO) is expected to post its Q3 earnings at $0.96 per share on revenue of $2.08 million.

Oclaro (NASDAQ: OCLR) issued downbeat FQ1 revenue forecast.

Shares of Datalink (NASDAQ: DTLK) dipped 13.40% on Friday after the company cut its Q3 forecast.

Shares of Fleetmatics Group plc (NYSE: FLTX) jumped 31.18% on its first day of public trading.

European markets were lower today. The STOXX Europe 600 Index fell 0.93%, London's FTSE 100 Index dropped 0.01%, French CAC 40 Index declined 1.23% and German DAX 30 index fell 1.33%.

Asian markets ended lower, with China's Shanghai Composite dropping 0.56% and Australia's S&P/ASX 200 falling 0.26%. Hong Kong's Hang Seng index fell 0.89% and India's Sensex fell 1.23%.

The World Bank cut its 2012 growth outlook for China to 7.7%, versus its earlier forecast of 8.2%.

Crude for November delivery dropped $1.06 to trade at $88.85 a barrel, while gold for December delivery fell $8.40 to $1,772.40.

The ICE dollar index (DXY) gained 0.30% to 79.57, up from 79.350 in late North American trading on Friday.

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


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