US Stock Futures Down Ahead Of Economic Data
US stock futures are lower this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average tumbled 67 points to 14,911.00 and S&P 500 index futures fell 7.90 points to 1,602.00. Nasdaq 100 futures dropped 14 points to 2,906.25.
US stocks closed lower on Wednesday, with the Dow Jones Industrial Average dropping 0.84% to 14,995.23, the S&P 500 index falling 0.84% to 1,612.52 and the Nasdaq 100 index declining 1.06% to 3,400.43.
Data on weekly jobless claims, retail sales for May, and import and export prices for May will be released at 8:30 a.m. ET. The Bloomberg Consumer Comfort Index will be released at 9:45 a.m. ET, while business inventories data for April will be released at 10:00 a.m. ET. The EIA weekly report on natural gas stocks will be released at 10:30 a.m. ET, while data on money supply will be released at 4:30 p.m. ET.
The World Bank lowered its 2013 global economic-growth view to 2.2%, versus its prior forecast of 2.4%.
Safeway (NYSE: SWY) announced its plans to sell its Canadian operations to Sobeys for $5.7 billion.
PVH (NYSE: PVH) reported better-than-expected first-quarter results.
Casey's General Stores (NASDAQ: CASY) is estimated to post its Q4 earnings at $0.62 per share on revenue of $1.83 billion. Restoration Hardware Holdings (NYSE: RH) is estimated to post its Q1 earnings at $0.04 per share on revenue of $299.13 million.
European markets were lower today. The STOXX Europe 600 Index tumbled 1.29%, London's FTSE 100 index dropped 1.15%, French CAC 40 Index declined 0.98% and German DAX 30 index fell 1.68%.
Asian markets ended lower, with Japan's Nikkei Stock Average falling 6.35%, China's Shanghai Composite dropping 2.83% and Australia's ASX/S&P500 dropping 0.66%. Hong Kong's Hang Seng Index fell 2.19% and India's Sensex tumbled 1.28%.
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