Market Overview

US Stock Futures Edge Lower Ahead Of Fed Minutes

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US stock futures are slightly lower this morning, ahead of the minutes of the recent Fed meeting. Futures for the Dow Jones Industrial Average tumbled 14 points to 15,208.00 and S&P 500 index futures fell 3.20 points to 1,642.40. Nasdaq 100 futures dropped 2 points to 2,972.25.

US stocks closed higher on Tuesday, with the Dow Jones Industrial Average surging 0.50% to 15,300.34, the S&P 500 index rising 0.72% to 1,652.32 and the Nasdaq 100 index gaining 0.56% to 3,504.26.

The MBA purchase applications index will be released at 7:00 a.m. ET, while wholesale trade data for May will be released at 10:00 a.m. ET. The EIA weekly report on petroleum inventories will be released at 10:30 a.m. ET, while the FOMC will release minutes of its latest meeting at 2:00 p.m. ET. Federal Reserve Chairman Ben Bernanke is expected to speak at 4:10 p.m. ET.

Helen of Troy (NASDAQ: HELE) reported upbeat fiscal first-quarter profit.

Nu Skin Enterprises (NYSE: NUS) lifted its forecast for the second quarter and full year.

Family Dollar Stores (NYSE: FDO) is estimated to report its Q3 earnings at $1.03 per share on revenue of $2.57 billion. Yum! Brands (NYSE: YUM) is projected to post its Q1 earnings at $0.54 per share on revenue of $2.93 billion. American Greetings (NYSE: AM) is expected to report its Q1 earnings at $0.76 per share.

Fastenal Company (NASDAQ: FAST) is projected to report its Q2 earnings at $0.41 per share on revenue of $857.13 million. PriceSmart (NASDAQ: PSMT) is expected to post its Q3 earnings at $0.64 per share on revenue of $568.33 million. MSC Industrial Direct Co (NYSE: MSM) is expected to report its Q3 earnings at $0.97 per share on revenue of $635.18 million.

European markets were lower today. The STOXX Europe 600 Index dropped 0.34%, London's FTSE 100 index declined 0.35%, French CAC 40 Index dropped 0.39% and German DAX 30 index fell 0.32%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average falling 0.39%, China's Shanghai Composite surging 2.17% and Australia's ASX/S&P500 rising 0.39%. Hong Kong's Heng Seng Index gained 1.07% and India's Sensex fell 0.75%.

China's exports declined 3.1% y/y in June, versus a 1% rise in May.

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

 

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