A Peek Into The Market Before The Trading Starts

Pre-open movers

US stock futures are lower this morning, after decline in global markets. Futures on the Dow Jones Industrial Average dipped 51 points to 12,505.00 and futures on the S&P 500 stock index fell 5.80 points to 1,328.00. Nasdaq 100 futures dropped 5.25 points to 2,364.75.

A Peek Into Global Markets

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 0.94%, Australia's S&P/ASX 200 moving down 1.32% and China's Shanghai Composite declining 0.77%. Hong Kong's Hang Seng Index fell 1.36% and India's Sensex dipped 0.97%. European markets were lower today. The STOXX Europe 600 Index has dropped 0.82%, London's FTSE 100 Index moved down 0.89%.

Broker Recommendation

Analysts at JP Morgan upgraded Sara Lee

SLE

from “neutral” to “overweight.” The target price for SLE has been raised from $21 to $23. SLE shares gained 1.74% to close at $19.26 on Friday.

Breaking news

Lowe's Companies LOW reported a 5.7% decline in its fiscal first-quarter net income. The company's quarterly profit dropped to $461 million, from $489 million, in the year-ago period. To read the full news, click here.
Joy Global Inc JOYG agreed to acquire LeTourneau Technologies Inc from Rowan Companies Inc RDC for $1.1 billion in cash. To read the full news, click here.
BlackBerry-maker Research in Motion RIMM determined Sunday that approximately 100 PlayBook tablets (16 GB) were shipped with an operating system build that "may result in the devices being unable to properly load software upon initial set-up." To read the full news, click here.
The head of the International Monetary Fund (IMF) was charged Sunday with the attempted rape of a New York City hotel worker, likely severing any remaining hope of a French presidential bid. To read the full news, click here.