US Stock Futures Flat Ahead Of Manufacturing PMI

US stock futures traded mostly flat in early pre-market trade, ahead of economic data. The Chicago Fed National Activity Index for May will be released at 8:30 a.m. ET, while the Markit PMI manufacturing index (flash) for June will be released at 9:45 a.m. ET. Data on existing home sales for May will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 3 points to 16,855.00, while the Standard & Poor's 500 index futures rose 0.50 points to 1,953.70. Futures for the Nasdaq 100 index declined 2.25 points to 3,791.00.

European markets were lower today, with the Spanish Ibex Index dropping 0.15%, STOXX Europe 600 Index declining 0.24%. German DAX 30 index fell 0.24%, French CAC 40 Index slipped 0.21% and London's FTSE 100 Index dropped 0.23%. The euro zone's composite PMI declined to 52.8 in June from 53.5 in May. French composite PMI slipped to 48.0 in June versus 49.3 in May. In Asian markets, Japan's Nikkei Stock Average rose 0.13%, Hong Kong's Hang Seng Index tumbled 1.68%, China's Shanghai Composite Index slipped 0.11% and India's BSE Sensex declined 0.30%. The HSBC's China manufacturing PMI rose to 50.8 versus a final reading of 49.4 in May.

Analysts at FBR Capital downgraded Helmerich & Payne

from “outperform” to “market perform.” The target price for Helmerich & Payne has been raised from $110 to $120. Helmerich & Payne's shares closed at $116.72 on Friday.