A Peek Into The Market Before The Trading Starts
Pre-open movers US stock futures declined in early pre-market trade, ahead of consumer sentiment data. The Reuter's/University of Michigan's consumer sentiment index is due at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average dipped 37 points to 15,447.00, while the Standard & Poor's 500 index futures tumbled 5 points to 1,679.00. Futures for the Nasdaq 100 index fell 7.25 points to 3,042.75.
A Peek Into Global Markets European markets were mixed today, with the Spanish Ibex Index surging 1.06%, London's FTSE 100 index dropping 0.17% and STOXX Europe 600 Index falling 0.01%. German DAX 30 index fell 0.56% and French CAC 40 Index gained 0.64%. Spanish 10-year government bond yields increased 1 basis point to 4.65%.
Asian markets ended mostly lower today. Japan's core consumer price index increased 0.4% y/y in June, versus economists' expectations for a 0.3% rise. China's Shanghai Composite dropped 0.51%, while Japan's Nikkei Stock Average fell 2.97%. Australia's ASX/S&P500 gained 0.11%, India's Sensex tumbled 0.29% and Hong Kong's Heng Seng Index rose 0.31%.
Broker Recommendation Analysts at Deutsche Bank upgraded Tesla Motors (NASDAQ: TSLA) from “hold” to “buy.” The target price for Tesla Motors has been raised from $50 to $160.
Tesla's shares gained 5.36% to $130.72 in pre-market trading.
- Tyco International (NYSE: TYC) reported a 45% drop in its fiscal third-quarter earnings. Tyco's quarterly profit fell to $135 million, or $0.28 per share, from $246 million, or $0.52 per share, in the year-ago period. To read the full news, click here.
- Forest Laboratories (NYSE: FRX) and Pierre Fabre Laboratories announced today that FETZIMA, a once-daily serotonin and norepinephrine reuptake inhibitor (SNRI), discovered by Pierre Fabre Laboratories and co-developed by Forest Laboratories was approved by the U.S. FDA for the treatment of Major Depressive Disorder in adults. To read the full news, click here.
- Stanley Black & Decker (NYSE: SWK) reported better-than-expected second-quarter earnings. Stanley Black & Decker's quarterly earnings rose to $187.1 million, or $1.23 per share, from $154.8 million, or $0.75 per share, in the year-earlier period. To read the full news, click here.
- Newell Rubbermaid (NYSE: NWL) reported a better-than-expected second-quarter profit and lifted the low end of its earnings forecast for the year. Newell now projects adjusted earnings of $1.80 to $1.84 per share, versus its earlier outlook of $1.78 to $1.84 per share. To read the full news, click here.
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