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US Stock Futures Down On Italy Debt Fears

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US stock futures are lower this morning, as debt fears moved to Italy. Futures on the Dow Jones Industrial Average dropped 101 points to 12,388.00 and futures on the S&P 500 stock index fell 14.10 points to 1,304.50. Nasdaq 100 futures declined 20.75 points to 2,346.25.

US stocks closed lower on Monday, with the Dow Jones industrial average dipping 1.20% to 12,505.76, the broader Standard & Poor's 500 index dropping 1.81% to 1,319.49 and the NASDAQ composite index declining 2.00% to 2,802.62.

Shares of Alcoa Inc (NYSE: AA) fell about 1.1% in pre-market trading after the company reported downbeat second-quarter profit. Alcoa posted its quarterly profit at $322 million, or $0.28 per share, up from $136 million, or $0.13 per share, in the year-ago period. Excluding charges, Alcoa's income from continuing operations came in at $0.32 per share. Its revenue surged to $6.59 billion from $5.19 billion. However, analysts were expecting earnings of $0.34 per share on revenue of $6.32 billion.

Fastenal Company (NASDAQ: FAST) is projected to report its Q2 EPS at $0.30 on revenue of $688.58 million.

Novellus Systems Inc (NASDAQ: NVLS) reported a 9% rise in its second-quarter profit, but lowered projections for the third quarter. Its quarterly net income surged to $64.7 million, or $0.79 per share, from $63.3 million, or $0.66 per share, in the year-ago period. NVLS' sales increased to $350.2 million from $321.4 million. Analysts were expecting a profit of $0.76 per share on sales of $352.3 million.

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 1.4262%, Australia's S&P/ASX 200 moving down 1.79% and China's Shanghai Composite declining 1.72%. Hong Kong's Hang Seng Index dipped 3.0611% and India's Sensex dipped 1.82%.

European markets were lower today. The STOXX Europe 600 Index has dropped 1.95%, London's FTSE 100 Index moved down 1.63%, German DAX 30 index fell 2.23% and France CAC 40 index dipped 2.35%.

The euro dropped 1% against the US dollar to trade at $1.3887.

The dollar index (DXY) surged 0.9% to 76.563.

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

 

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