US Stock Futures Drop Ahead Of Jobless Claims Report

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Pre-open movers
US stock futures fell in early pre-market trading, ahead of jobless claims data. Data on initial jobless claims will be released at 8:30 a.m. ET. The general conditions index of the Philadelphia Fed's Survey for March, existing home sales data for February and the Conference Board's index of leading indicators for February will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 52 points to 16,087.00, while the Standard & Poor's 500 index futures fell 6.20 points to 1,846.00. Futures for the Nasdaq 100 index dropped 13.75 points to 3,660.50.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.85%, London's FTSE 100 index dropping 1.03% and STOXX Europe 600 Index declining 0.86%. German DAX 30 index fell 0.94% and French CAC 40 Index declined 1.01%. Asian markets ended lower today. Japan's Nikkei Stock Average dropped 1.65%, Hong Kong's Hang Seng Index fell 1.79% and China's Shanghai Composite Index declined 1.40% and India's BSE Sensex dropped 0.69%.
Broker Recommendation
Analysts at Bank of America downgraded J.B. Hunt Transport Services
JBHT
from “buy” to “neutral.” The target price for J.B. Hunt Transport has been lowered from $85 to $78. J.B. Hunt's shares closed at $70.99 yesterday.
Breaking news
  • Lennar LEN reported better-than-expected first-quarter earnings. Lennar's quarterly earnings surged to $78.1 million, or $0.35 per share, versus $57.5 million, or $0.26 per share, in the year-earlier quarter. To read the full news, click here.
  • Agenus AGEN today announced that GlaxoSmithKline's GSK MAGRITi study, a Phase 3 randomized, blinded, placebo-controlled MAGE-A3ii cancer immunotherapeutic trial in non-small cell lung cancer patients, which contains Agenus'QS-21 Stimulon® adjuvant, did not meet its first or second co-primary endpoint. To read the full news, click here.
  • Hanwha SolarOne HSOL today announced it has signed a memorandum of understanding with the Wuxi New District Administrative Committee to establish a long-term strategic partnership to develop downstream PV projects. To read the full news, click here.
  • Six Flags Entertainment SIX and Unilever UL today announced a strategic partnership, naming Unilever Ice Cream the "Official Frozen Novelties" and "Hard Scooped Ice Cream" for all Six Flags Theme Parks in the U.S. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsBank of AmericaConsumer DiscretionaryHomebuildingUS Stock Futures
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