US Stock Futures Drop Ahead Of Consumer Sentiment Report

US stock futures traded lower in early pre-market trade, ahead of economic data. The Reuter's/University of Michigan's consumer sentiment index for June will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average dropped 30 points to 16,732.00, while the Standard & Poor's 500 index futures fell 4.80 points to 1,943.90. Futures for the Nasdaq 100 index declined 6.25 points to 3,811.25.

European markets were mixed today, with the Spanish Ibex Index dropping 0.12%, STOXX Europe 600 Index declining 0.05%. German DAX 30 index fell 0.02%, French CAC 40 Index rose 0.09% and London's FTSE 100 Index gained 0.07%. French consumer spending increased 1% in May from April, while producer price index dropped 0.5% in May versus April. Spanish consumer price index remained unchanged in June, versus a 0.2% gain in May. UK's consumer confidence index climbed to 1 in June. In Asian markets, Japan's Nikkei Stock Average fell 1.39%, Hong Kong's Hang Seng Index surged 0.10%, China's Shanghai Composite Index declined 0.11% and India's BSE Sensex rose 0.15%. Japan's unemployment declined to 3.5% in May.

Analysts at Jefferies upgraded Manitowoc Company

from “underperform” to hold.” The target price for Manitowoc has been raised from $24 to $33. Manitowoc's shares closed at $29.71 yesterday.