Market Overview

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Pre-open movers US stock futures are lower this morning, after House Republican leaders cancelled a tax vote. Futures for the Dow Jones Industrial Average dropped 168 points to 13,101.00 and S&P 500 index futures fell 19.40 points to 1,421.20. Nasdaq 100 futures tumbled 35.75 points to 2,654.25.

A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index fell 0.57%, London's FTSE 100 Index dropped 0.71%, French CAC 40 Index declined 0.35% and German DAX 30 index fell 0.60%.

Asian markets ended lower, with Japan's Nikkei Stock Average falling 0.99%, China's Shanghai Composite dropping 0.69% and Australia's S&P/ASX 200 falling 0.25%. Hong Kong's Hang Seng Index declined 0.68% and India's Sensex dropped 1.09%.

Broker Recommendation Analysts at Janney Capital downgraded Nike (NYSE: NKE) from “buy” to “neutral.” The target price for Nike is set to $110.

Nike shares gained 3.59% to $102.55 in pre-market trading.

Breaking news

  • Panasonic (NYSE: PC) today announced that SANYO Electric Co., Ltd., a subsidiary of Panasonic, has formed an agreement on the transfer of all the shares of SANYO DI Solutions Co., Ltd., which operates the digital camera and digital movie camera businesses. To read the full news, click here.
  • Acorda Therapeutics (NASDAQ: ACOR) today announced that the company has completed the acquisition of Neuronex, Inc., a privately held company developing a nasal spray formulation of diazepam. To read the full news, click here.
  • GE (NYSE: GE) announced today that it has agreed to purchase the aviation business of Avio S.p.A., an Italy-based manufacturer of aviation propulsion components and systems for civil and military aircraft, for $4.3 billion U.S. (€3.3 billion). To read the full news, click here.
  • Jiayuan.com International (NASDAQ: DATE) today announced that its board of directors has approved a new US$10 million share repurchase program. To read the full news, click here.

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

 

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