Market Overview

US Stock Futures Edge Lower; Yellen In Focus

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US Stock Futures Edge Lower; Yellen In Focus
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Pre-open movers

US stock futures traded lower in early pre-market trade. Federal Reserve Chairwoman Janet Yellen is scheduled to speak on labor market in Jackson Hole, Wyoming at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 15 points to 17,001.00, while the Standard & Poor's 500 index futures fell 3 points to 1,986.60. Futures for the Nasdaq 100 index dropped 4.50 point to 4,043.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.53%, STOXX Europe 600 Index falling 0.38%. German DAX 30 index dipped 0.75%, French CAC 40 Index fell 0.94% and London's FTSE 100 Index dropped 0.21%.

In Asian markets, Japan's Nikkei Stock Average fell 0.30%, Hong Kong's Hang Seng Index rose 0.47%, China's Shanghai Composite Index surged 0.46% and India's Sensex gained 0.23%.

Broker Recommendation
Analysts at Janney Capital upgraded The Gap (NYSE: GPS) from Neutral to Buy. The target price for Gap has been raised from $43 to $51.

Gap's shares gained 0.16% to close at $43.18 yesterday.

Breaking news

  • Shares of Foot Locker (NYSE: FL) surged more than 4% in pre-market trading after the company reported stronger-than-expected fiscal second-quarter results. To read the full news, click here.
  • Dynegy (NYSE: DYN) has signed two separate definitive sets of agreements to acquire the ownership interests in certain Midwest generation assets from Duke Energy (NYSE: DUK) and EquiPower Resources Corp and Brayton Point Holdings, LLC from ECP. To read the full news, click here.
  • CHC Group (NYSE: HELI) and Clayton, Dubilier & Rice (CD&R) today announced they have entered into definitive agreements for CD&R managed funds to invest $500 million in CHC through the purchase of convertible preferred shares to be issued in a private placement. To read the full news, click here.
  • Aeropostale (NYSE: ARO) traded sharply lower in pre-market trading after reporting low third quarter guidance on Thursday. Revenue was reported just above the analyst consensus at $396.2 million versus $395.4 million. To read the full news, click here.

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

 

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