US Stock Futures Down Ahead Of Trade Data
US stock futures fell in early pre-market trade, ahead of the international trade data. Data on international trade for June will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 30 points to 15,524.00, while the Standard & Poor's 500 index futures fell 3 points to 1,699.50. Futures for the Nasdaq 100 index dropped 1.75 points to 3,134.25.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index rising 0.21%, London's FTSE 100 index dropping 0.24% and STOXX Europe 600 Index gaining 0.01%. German DAX 30 index declined 0.18% and French CAC 40 Index rose 0.11%. UK retail sales increased 3.9% in July, while industrial production rose 1.1% in June from May. Italian GDP contracted 2.0% y/y in the second quarter, while the country's industrial output dropped 2.1% in June y/y.
Asian markets ended mostly lower following the Reserve Bank of Australia's rate decision. The RBA lowered its interest rate by a quarter percentage point to 2.5%. China's Shanghai Composite surged 0.49%, while Japan's Nikkei Stock Average gained 1%. Australia's ASX/S&P500 dropped 0.11%, India's Sensex dipped 2.34% and Hong Kong's Heng Seng Index tumbled 1.34%.
Analysts at Canaccord Genuity upgraded Volcano (NASDAQ: VOLC) from “hold” to “buy.” The target price for Volcano has been raised from $21 to $26.
Volcano's shares closed at $20.62 yesterday.
- Dish Network (NASDAQ: DISH) reported a net loss in the second quarter. Dish posted a quarterly net loss of $11 million, or $0.02 per share, versus a year-ago net profit of $226 million, or $0.50 per share. To read the full news, click here.
- Spectra Energy Partners LP (NYSE: SEP) and Spectra Energy (NYSE: SE) today announced that both company boards have executed an agreement to drop down Spectra Energy's remaining U.S. transmission, storage, and liquids assets to Spectra Energy Partners. To read the full news, click here.
- InterContinental Hotels Group PLC (NYSE: IHG) reported a rise in its net profit. Its net profit surged to $340 million from $271 million, while revenue gained 7% to $936 million. To read the full news, click here.
- Fifth Street Management LLC today announced its entry into venture lending through Fifth Street Technology Partners. The new group will be led by Michael David, former Co-Head and Managing Director of ORIX Venture Finance LLC and a 20-year industry veteran. To read the full news, click here.
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