Market Overview

US Stock Futures Down Ahead Of Wholesale Trade Data

US Stock Futures Down Ahead Of Wholesale Trade Data
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Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of wholesale trade data. Data on wholesale trade for April will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 25 points to 16,911.00, while the Standard & Poor's 500 index futures fell 4.30 points to 1,945.90. Futures for the Nasdaq 100 index dropped 6.75 points to 3,787.00.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.09%, STOXX Europe 600 Index gaining 0.22%. German DAX 30 index rose 0.20%, French CAC 40 Index gained 0.14% and London's FTSE 100 Index dropped 0.40%. French industrial output increased 0.3% in April from March, while Italian industrial output rose 0.7% on the month in April. UK's manufacturing output climbed 0.4% on the month in April.

In Asian markets, Japan's Nikkei Stock Average fell 0.85%, Hong Kong's Hang Seng Index climbed 0.86%, China's Shanghai Composite Index gained 1.08% and India's BSE Sensex rose 0.01%. China's consumer prices gained 2.5% y/y in May, while producer prices fell 1.4% y/y.

Broker Recommendation

Analysts at RBC Capital upgraded Union Pacific (NYSE: UNP) from “sector perform” to “outperform.” The target price for Union Pacific has been raised from $97 to $115.

Union Pacific's shares closed at $102.14 yesterday.

Breaking news

  • Stereotaxis (NASDAQ: STXS) announced today that it has submitted a 510(k) Premarket Notification to the Food and Drug Administration (FDA) for the Company's Vdrive™ Robotic Navigation System with V-CAS™ Catheter Advancement System. To read the full news, click here.
  • RadioShack (NYSE: RSH) reported a wider-than-expected first-quarter loss. RadioShack posted a quarterly net loss of $98.3 million, or $0.97 per share, versus s year-ago loss of $28 million, or $0.28 per share. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) announced today that AstraZeneca has initiated a Phase 1 clinical study of ISIS-ARRx in patients with cancer. Isis earned a $15 million milestone payment associated with the clinical advancement of ISIS-ARRx. To read the full news, click here.
  • B/E Aerospace (NASDAQ: BEAV) announced today that the Company's Board of Directors has commenced a process to separate its industry-leading businesses into two independent, publicly traded companies — one focused on aircraft cabin interior equipment – design, development, manufacturing, certification and direct sales on a global basis, and the other focused on distribution, logistics and technical services for the aerospace and energy services markets. To read the full news, click here.

Posted-In: RBC Capital US Stock FuturesNews Eurozone Futures Global Intraday Update Markets


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