Market Overview

Financial Breakfast: Morning News Summary for June 6, 2012


Wednesday, June 6, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

Domestic Pre-Market Trading

  • U.S. Equity Markets trade up as Dow futures trade higher about 110 points.
  • U.S. Dollar trades about 0.32% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 gained 1.4%, Germany's DAX advanced 1.68% and France's CAC 40 added 2.02% on the session.
  • Asian stocks ended the session mixed. China's Shanghai slid 0.10%, Japan's Nikkei 225 gained 1.81%, and Hong Kong's Hang Seng advanced 1.43%.
To see more overseas news, click here.


  • Goldman Sachs Upgrades Lam Research (NASDAQ: LRCX) from Not Rated to Neutral, Announces PT of $38
  • Credit Suisse Upgrades Southwestern Energy (NYSE: SWN) from Underperform to Neutral, PT Raised from $25 to $29
To see more of today's upgrades, click here.

  • Jefferies & Company Downgrades Rackspace Hosting (NYSE: RAX) from Buy to Hold, Lowers PT from $64 to $54
  • Bank of America Downgrades Sherwin-Williams (NYSE: SHW) from Neutral to Underperform, Raises PO from $120 to $122
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET - Unit Labor Costs (QoQ)
  • 08:30 - Nonfarm Productivity (QoQ)
  • 10:30 - Gasoline Inventories
  • 10:30 - Crude Oil Inventories
  • 14:00 - Beige Book
To see more economic news, click here


  • Cyberonics (NASDAQ: CYBX) Reports Q4 EPS $0.38 vs $0.35 Est; Revenues $57.6M vs $56.61M Est
  • Tempur-Pedic (NYSE: TPX) Lowers Full Year Guidance, Sales $1.43B vs $1.65B Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.


  • Precious metals are trading higher, with gold posting early gains of about 1.35%
  • Energy futures are trading higher, with crude oil posting early gains of about 1.41%
  • Natural Gas futures are trading 0.65% lower and copper is trading higher by about 2.3%
To see more commodities news, click here.

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini S&P 500 1299 1292 1279 1273 1260
Gold 1629 1623 1618 1612 1606
Crude 85.70 84.88 84.10 83.28 82.50
Natural Gas 2.53 2.48 2.43 2.39 2.34
EUR/USD 1.2584 1.2516 1.2463 1.2397 1.2343
US Dollar Index 83.36 83.11 82.77 82.50 82.18

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