US Stock Futures Down After Downbeat Japan Data

US stock futures dropped in early pre-market trade, after a downbeat Japanese GDP report. Futures for the Dow Jones Industrial Average tumbled 60 points to 15,315.00, while the Standard & Poor's 500 index futures dropped 8.30 points to 1,677.90. Futures for the Nasdaq 100 index fell 13.50 points to 3,099.75.

European markets were lower today, with the Spanish Ibex Index falling 0.33%, London's FTSE 100 index dropping 0.33% and STOXX Europe 600 Index declining 0.33%. German DAX 30 index dropped 0.74% and French CAC 40 Index fell 0.26%. Asian markets ended mostly higher. Japan's Q2 GDP grew an annualized 2.6%, versus a downwardly revised previous reading of 3.8%. However, economists were expecting a 3.6% growth. China's Shanghai Composite gained 2.39%, while Japan's Nikkei Stock Average fell 0.70%. Australia's ASX/S&P500 gained 1.10%, India's Sensex surged 0.84% and Hong Kong's Heng Seng Index jumped 2.13%.

Analysts at Canaccord Genuity upgraded Lowe's Companies

from “sell” to “hold.” The target price for Lowe's Companies has been raised from $28 to $48. Lowe's shares closed at $45.68 on Friday.