Market Overview

US Stock Futures Edge Lower Ahead Of Housing Data

US Stock Futures Edge Lower Ahead Of Housing Data
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Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of economic data. The FHFA house price index and the S&P/Case-Shiller home price index for April will be released at 9:00 a.m. ET. Data on new home sales for May, the Conference Board's consumer confidence index for June and the Richmond Fed manufacturing index for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 16 points to 16,824.00, while the Standard & Poor's 500 index futures fell 3.40 points to 1,949.60. Futures for the Nasdaq 100 index declined 6 points to 3,788.50.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index dropping 0.02%, STOXX Europe 600 Index declining 0.20%. German DAX 30 index rose 0.07%, French CAC 40 Index gained 0.10% and London's FTSE 100 Index dropped 0.13%. German IFO business climate index slipped to 109.7 in June, versus an unrevised reading of 110.4 in May.

In Asian markets, Japan's Nikkei Stock Average rose 0.05%, Hong Kong's Hang Seng Index surged 0.33%, China's Shanghai Composite Index jumped 0.47% and India's BSE Sensex surged 1.35%.

Broker Recommendation

Analysts at Baird downgraded Integrys Energy Group (NYSE: TEG) from “outperform” to “neutral.” The target price for Integrys Energy has been raised from $64 to $68.

Integrys Energy's shares closed at $68.35 yesterday.

Breaking news

  • Ohr Pharmaceutical (NASDAQ: OHRP) today announced positive top-line interim results for its double-masked, placebo-controlled Phase II clinical trial of Squalamine eye drops in patients with wet age-related macular degeneration (wet AMD). To read the full news, click here.
  • GE Oil & Gas (NYSE: GE) announced today it has received an order for the offshore oil and gas industry's first 20,000-psi (20-ksi) rated deepwater blowout preventer (BOP) stack and riser systems from Copenhagen, Denmark-based Maersk Drilling. To read the full news, click here.
  • IBM (NYSE: IBM) today announced it has been selected by Toyota Motor (NYSE: TM) to build and design a new application development platform that will foster the creation of in-car services to improve the driver experience. To read the full news, click here.
  • Raptor Pharmaceutical (NASDAQ: RPTP) today announced that data from its open label extension study of delayed-release cysteamine bitartrate (PROCYSBI^®) has been published in the Journal of Pediatrics [DOI: 10.1016/j.jpeds.2014.05.013]. To read the full news, click here.

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

 

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