Market Overview

US Stock Futures Edge Lower; Yellen In Focus

Related GPS
UPDATE: Bank Of America Downgrades The Gap Inc.
Benzinga's Top Downgrades
Stocks Inch Lower Ahead of Yellen's Jackson Hole Speech (Fox Business)
Related FL
Men's Wearhouse Q2 Earnings Beat, Sales Rise, Stock Up 2.2%
Benzinga's Top Initiations
Finish Line 1Q Profit Doubles to Top Views (Fox Business)

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

 

Related Articles (ARO + DUK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters