Market Overview

US Stock Futures Down Ahead Of Economic Data

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US stock futures are lower this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average tumbled 67 points to 14,911.00 and S&P 500 index futures fell 7.90 points to 1,602.00. Nasdaq 100 futures dropped 14 points to 2,906.25.

US stocks closed lower on Wednesday, with the Dow Jones Industrial Average dropping 0.84% to 14,995.23, the S&P 500 index falling 0.84% to 1,612.52 and the Nasdaq 100 index declining 1.06% to 3,400.43.

Data on weekly jobless claims, retail sales for May, and import and export prices for May will be released at 8:30 a.m. ET. The Bloomberg Consumer Comfort Index will be released at 9:45 a.m. ET, while business inventories data for April will be released at 10:00 a.m. ET. The EIA weekly report on natural gas stocks will be released at 10:30 a.m. ET, while data on money supply will be released at 4:30 p.m. ET.

The World Bank lowered its 2013 global economic-growth view to 2.2%, versus its prior forecast of 2.4%.

H&R Block (NYSE: HRB) reported weaker-than-expected fourth-quarter results. Five Below (NASDAQ: FIVE) reported upbeat first-quarter earnings.

Safeway (NYSE: SWY) announced its plans to sell its Canadian operations to Sobeys for $5.7 billion.

PVH (NYSE: PVH) reported better-than-expected first-quarter results.

Casey's General Stores (NASDAQ: CASY) is estimated to post its Q4 earnings at $0.62 per share on revenue of $1.83 billion. Restoration Hardware Holdings (NYSE: RH) is estimated to post its Q1 earnings at $0.04 per share on revenue of $299.13 million.

European markets were lower today. The STOXX Europe 600 Index tumbled 1.29%, London's FTSE 100 index dropped 1.15%, French CAC 40 Index declined 0.98% and German DAX 30 index fell 1.68%.

Asian markets ended lower, with Japan's Nikkei Stock Average falling 6.35%, China's Shanghai Composite dropping 2.83% and Australia's ASX/S&P500 dropping 0.66%. Hong Kong's Hang Seng Index fell 2.19% and India's Sensex tumbled 1.28%.

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

 

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