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Pre-open movers US stock futures are lower this morning, as investors are awaiting wholesale inventories data. Futures for the Dow Jones Industrial Average dropped 19 points to 13,393.00 and S&P 500 index futures fell 0.50 points to 1,435.40. Nasdaq 100 futures dropped 3 points to 2,731.00.

A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index fell 0.30%, London's FTSE 100 Index dropped 0.37%, French CAC 40 Index declined 0.32% and German DAX 30 index fell 0.26%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average dropping 1.98%, China's Shanghai Composite surging 0.22% and Australia's S&P/ASX 200 falling 0.32%. Hong Kong's Hang Seng index fell 0.08% and India's Sensex declined 0.86%.

Broker Recommendation Analysts at JP Morgan downgraded Owens Corning (NYSE: OC) from “overweight” to “neutral.” The target price for Owens Corning has been lowered from $38 to $31.50.

Owens Corning shares tumbled 8.34% to close at $31.12 yesterday.

Breaking news

  • Cooper Industries (NYSE: CBE) and Danaher (NYSE: DHR) announced today that they have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments. To read the full news, click here.
  • Raptor Pharmaceutical (NASDAQ: RPTP) today announced that the Company has acquired exclusive world-wide rights to intellectual property related to cysteamine and related compounds in the potential treatment of tissue fibrosis from the Seattle Children's Research Institute. To read the full news, click here.
  • Teva Pharmaceutical (NYSE: TEVA) today announced data from the Phase III Glatiramer Acetate Low-Frequency Administration (GALA) study. To read the full news, click here.
  • True Religion Apparel (NASDAQ: TRLG) today announced that after receiving indications of interest from third parties regarding a potential transaction with the Company, the Board of Directors has formed a Special Committee comprised of its non-management directors to explore and evaluate potential strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value. To read the full news, click here.

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

 

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