Market Overview

US Stock Futures Decline Ahead Of Consumer Sentiment Report

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Pre-open movers

US stock futures fell in early pre-market trade. The Flash Services PMI for April will be released at 9:45 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for April will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 44 points to 16,375.00, while the Standard & Poor's 500 index futures fell 5.30 points to 1,867.80. Futures for the Nasdaq 100 index dropped 14 points to 3,570.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.92%, London's FTSE 100 index dropping 0.35% and STOXX Europe 600 Index slipping 0.53%. German DAX 30 index declined 1.17% and French CAC 40 Index fell 0.45%.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average rose 0.17%, Hong Kong's Hang Seng Index tumbled 1.50%, China's Shanghai Composite fell 1% and India's BSE Index declined 0.82%.

Broker Recommendation

Analysts at Wunderlich upgraded NetScout Systems (NASDAQ: NTCT) from “hold” to “buy.” The target price for NetScout Systems has been raised from $35 to $46.

NetScout's shares closed at $38.70 yesterday.

Breaking news

  • Whirlpool (NYSE: WHR) reported weaker-than-expected first-quarter earnings. Whirlpool's quarterly earnings fell to $160 million, or $2.02 per share, versus $252 million, or $3.12 per share, in the year-ago quarter. To read the full news, click here.
  • Microsoft (NASDAQ: MSFT) announced it has completed its acquisition of the Nokia (NYSE: NOK) Devices and Services business. To read the full news, click here.
  • Ford Motor Co (NYSE: F) reported a drop in its first-quarter profit. Ford's quarterly profit slipped to $989 million, or $0.24 per share, versus a year-ago profit of $1.61 billion, or $0.40 per share. To read the full news, click here.
  • The Wet Seal (NASDAQ: WTSL) today announced that it will begin winding down its Arden B brand. Arden B currently operates 54 mall-based stores and an e-commerce web site, www.ardenb.com. To read the full news, click here.

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

 

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