Market Overview

US Stock Futures Flat Ahead Of Pending Home Sales

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Pre-open movers

US stock futures were mostly flat in early pre-market trade, ahead of pending home sales data. The pending home sales index for July will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 1 point to 14,757.00, while the Standard & Poor's 500 index futures rose 0.30 points to 1,628.50. Futures for the Nasdaq 100 index increased 3 points to 3,062.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.87%, London's FTSE 100 index falling 0.36% and STOXX Europe 600 Index declining 0.68%. German DAX 30 index fell 1.03% and French CAC 40 Index declined 0.28%.

Asian markets ended mostly lower today. China's Shanghai Composite fell 0.11%, while Japan's Nikkei Stock Average dropped 1.51%. Australia's ASX/S&P500 dropped 1.03%, Hong Kong's Hang Seng Index fell 1.60% and India's Sensex rose 0.16%.

Broker Recommendation

Analysts at JP Morgan downgraded TASER International (NASDAQ: TASR) from “overweight” to “neutral.” The target price for TASER International is set to $12.

TASER's shares closed at $11.85 yesterday.

Breaking news

  • Joy Global (NYSE: JOY) reported upbeat fiscal third-quarter earnings. Joy Global's quarterly profit fell to $183.2 million, or $1.71 per share, from $193.5 million, or $1.81 per share, in the year-ago period. To read the full news, click here.
  • IMAX Corporation (NYSE: IMAX) and Cineworld Group PLC, the UK's largest cinema chain, today announced an expansion of the companies' revenue sharing agreement with an IMAX theatre to be added at a location yet to be determined and the installation of IMAX's next-generation laser digital projection technology at Glasgow Science Centre's IMAX® theatre in Scotland. To read the full news, click here.
  • Seadrill (NYSE: SDRL) reported a surge in its second-quarter net profit. Seadrill's quarterly net profit jumped to $1.73 billion, or $3.68 per share. To read the full news, click here.
  • Simcere Pharmaceutical Group (NYSE: SCR) announced today that it has entered into a definitive Agreement and Plan of Merger with Simcere Holding Limited and Simcere Acquisition Limited, pursuant to which Parent will acquire Simcere for US$4.83 per ordinary share of the Company or US$9.66 per American depositary share, each representing two Shares. 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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