Market Overview

US Stock Futures Mostly Lower Ahead Of Wholesale Data

Related WU
Western Union Posts Flat Q2; Boosts FY14 Outlook
Earnings Scheduled For July 31, 2014
Related JKS
Jinko Power Signs Project Investment Agreement For 100 MW PV Power Plants With Local Government Of Hengfeng County, Jiangxi Province
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Pre-open movers

US stock futures traded mostly lower in early pre-market trade, ahead of wholesale data. The producer price index for July will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average dropped 18 points to 15,393.00, while the Standard & Poor's 500 index futures fell 2.70 points to 1,688.10. Futures for the Nasdaq 100 index rose 0.75 points to 3,137.75.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index dropping 0.17%, London's FTSE 100 index surging 0.08% and STOXX Europe 600 Index rising 0.12%. German DAX 30 index gained 0.15% and French CAC 40 Index rose 0.28%. Euro-zone gross domestic product increased 0.3% in the second quarter versus the earlier quarter. German gross domestic product grew 0.7% in the second quarter, versus economists' expectations for a 0.6% rise. France GDP rose 0.5% in the second quarter versus the first quarter, beating estimates of a 0.2% increase. French consumer prices declined 0.3% in July versus June.

Asian markets ended mixed today. Australian consumer sentiment increased 3.5% to 105.7 points in August from July, the Westpac Banking Corp/Melbourne Institute reported. China's Shanghai Composite declined 0.29%, while Japan's Nikkei Stock Average jumped 1.32%. Australia's ASX/S&P500 dropped 0.01% and India's Sensex surged 0.72%.

Broker Recommendation

Analysts at JP Morgan upgraded Western Union Company (NYSE: WU) from “underweight” to “neutral.” The target price for Western Union has been raised from $17 to $18.

Western Union's shares closed at $18.65 yesterday.

Breaking news

  • JinkoSolar Holding Co (NYSE: JKS) posted a profit in the second quarter. JinkoSolar posted a quarterly net income of $8 million, or $0.36 per American Depositary Share (ADS), versus a year-ago net loss of $48.9 million, or $2.20 per ADS. To read the full news, click here.
  • Diamondback Energy (NASDAQ: FANG) announced today the launch of an underwritten public offering of 4,000,000 shares of its common stock, subject to market and other conditions. To read the full news, click here.
  • MannKind (NASDAQ: MNKD) today announced positive preliminary results from Study 175, a Phase 3 clinical study of AFREZZA® (insulin human [rDNA origin]) Inhalation Powder, an investigational, ultra rapid-acting mealtime insulin therapy administered using MannKind's next-generation (Gen2) inhaler, in patients with type 2 diabetes. To read the full news, click here.
  • Deere & Co (NYSE: DE) reported a rise in its third-quarter profit. Deere's quarterly profit surged to $997 million, or $2.56 per share, from $788 million, or $1.98 per share, in the year-ago period. To read the full news, click here.

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


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