Market Overview

US Stock Futures Edge Down Ahead Of Consumer Price Index

Share:
US Stock Futures Edge Down Ahead Of Consumer Price Index
Related LCC
American Airlines Stock Is Neutral Despite Strong Management
The Best (And Worst) Airliners Of The Summer
Related
Deutsche Still Finds Coty Attractive
20 Biggest Mid-Day Losers For Tuesday
InsiderInsights.com Daily Round Up 8/29/16: NEWM, CAPL, PSX, CAVM (Seeking Alpha)

Pre-open movers

US stock futures fell in early pre-market trade, ahead of the consumer price index. The Federal Open Market Committee will begin its two-day policy meeting today. The consumer price index for August will be released at 8:30 a.m. ET, while the NAHB housing market index for September will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 8 points to 15,423.00, while the Standard & Poor's 500 index futures fell 2.10 points to 1,689.10. Futures for the Nasdaq 100 index declined 1.75 points to 3,159.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.59%, London's FTSE 100 index dropping 0.41% and STOXX Europe 600 Index dipping 0.46%. German DAX 30 index declined 0.22% and French CAC 40 Index fell 0.33%. The euro zone trade surplus widened to 18.2 billion euros ($24.31 billion) in July, from EUR13.9 billion in the year-ago period. German ZEW economic expectations indicator surged to 49.6 points in September, versus 42.0 points in August.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average dropped 0.65%, while China's Shanghai Composite fell 2.05%. Australia's ASX/S&P500 gained 0.07%, Hong Kong's Hang Seng Index declined 0.31% and India's Sensex rose 0.31%. Hong Kong's June-August jobless rate came in unchanged at 3.3% from the May-July period.

Broker Recommendation

Analysts at JP Morgan upgraded US Airways Group (NYSE: LCC) from “neutral” to “overweight.” The target price for US Airways has been raised from $18 to $26.

US Airways' shares closed at $18.07 yesterday.

Breaking news

  • Coty (NASDAQ: COTY) reported a narrower loss in the quarter ended June 30. To read the full news, click here.
  • Acacia Research (NASDAQ: ACTG) announced today that its Brilliant Optical Solutions LLC subsidiary and Google (NASDAQ: GOOG) have entered into an agreement that resolves the dispute between the parties currently pending in the United States District Court for the Western District of Missouri, Civil Action No. 4-12-cv-00356. To read the full news, click here.
  • Rockwood Holdings (NYSE: ROC) announced today that it entered into a definitive agreement to sell its Titanium Dioxide Pigments and four other non-strategic businesses to Huntsman (NYSE: HUN) for an enterprise value of $1.325 billion, including the assumption of $225 million in pension obligations, and subject to other customary adjustments. To read the full news, click here.
  • Dr. Reddy's Laboratories (NYSE: RDY) announced today that Azacitidine for Injection 100 mg/vial, a bioequivalent generic version of VIDAZA® (azacitidine for injection), is approved by the United States Food & Drug Administration (USFDA) on September 16, 2013. To read the full news, click here.

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

 

Related Articles (ACTG + COTY)

View Comments and Join the Discussion!