Market Overview

US Stock Futures Tumble Ahead Of Jobless Claims Report

Share:
US Stock Futures Tumble Ahead Of Jobless Claims Report
Related QCOM
The Hardest Part? Waiting For Yellen's Speech As Slow Market Action Continues
Why Short Sellers Have Piled On Skyworks Solutions And Other Chip Stocks
Nvidia's Parker Increases Momentum In Automotive And Mobile AI (Seeking Alpha)
Related MCK
Worst Performing Industries For August 25, 2016
12 Must Watch Stocks for July 27, 2016
The Vetr community has upgraded $MCK to 3.5-Stars. (Vetr)

Pre-open movers

US stock futures dropped in early pre-market trade, ahead of economic data. Data on weekly jobless claims will be released at 8:30 a.m. ET, while the Chicago PMI for July will be released at 9:45 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 86 points to 16,735.00, while the Standard & Poor's 500 index futures fell 10.30 points to 1,954.80. Futures for the Nasdaq 100 index dropped 24.25 points to 3,944.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.95%, STOXX Europe 600 Index dropping 0.97%. German DAX 30 index fell 1.22%, French CAC 40 Index declined 0.94% and London's FTSE 100 Index dropped 0.20%. Italy's unemployment rate declined to 12.3% in June, versus 12.6% in the prior month, while French producer prices were unchanged in June versus May. Euro-zone consumer prices rose 0.4% y/y in July, down from 0.5% in June.

In Asian markets, Japan's Nikkei Stock Average fell 0.16%, Hong Kong's Hang Seng Index surged 0.10%, China's Shanghai Composite Index climbed 0.93% and India's Sensex declined 0.74%. Japan's industrial production dropped 3.3% in June, versus a 0.7% gain in May.

Broker Recommendation

Analysts at Bernstein downgraded QUALCOMM (NASDAQ: QCOM) from Outperform to Market Perform. The target price for QUALCOMM has been lowered from $85 to $80.

QUALCOMM's shares gained 0.97% to close at $76.04 yesterday.

Breaking news

  • McKesson (NYSE: MCK) reported stronger-than-expected fiscal first-quarter profit and lifted its full-year fiscal 2015 earnings forecast. To read the full news, click here.
  • IBM (NYSE: IBM) today announced it has acquired CrossIdeas, a privately held provider of security software that governs user access to applications and data across on-premise and cloud environments. To read the full news, click here.
  • DIRECTV (NASDAQ: DTV) reported better-than-expected second-quarter earnings. To read the full news, click here.
  • Time Warner Cable (NYSE: TWC) reported weaker-than-expected second-quarter earnings. To read the full news, click here.

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

 

Related Articles (DTV + IBM)

View Comments and Join the Discussion!