Market Overview

US Stock Futures Down Ahead Of Home Prices, Consumer Confidence Data

US Stock Futures Down Ahead Of Home Prices, Consumer Confidence Data
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Pre-open movers

US stock futures dropped in early pre-market trade, ahead of economic data. The S&P/Case-Shiller home price index for June will be released at 9:00 a.m. ET, while the Conference Board's consumer confidence index for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 91 points to 14,840.00, while the Standard & Poor's 500 index futures fell 11.50 points to 1,642.70. Futures for the Nasdaq 100 index dropped 27.50 points to 3,093.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 1.71%, London's FTSE 100 index falling 0.57% and STOXX Europe 600 Index declining 1.15%. German DAX 30 index fell 1.45% and French CAC 40 Index declined 1.51%.

Asian markets ended mostly lower today. China's Shanghai Composite surged 0.34%, while Japan's Nikkei Stock Average dropped 0.69%. Australia's ASX/S&P500 gained 0.07%, Hong Kong's Hang Seng Index fell 0.59% and India's Sensex tumbled 3.18%.

Broker Recommendation

Analysts at UBS upgraded Monsanto Company (NYSE: MON) from “neutral” to “buy.” The price target for Monsanto is set to $110.

Monsanto's shares closed at $97.65 yesterday.

Breaking news

  • Regis (NYSE: RGS) reported weaker-than-expected fourth-quarter results. Regis posted a quarterly net income of $675,000, or $0.01 per share, versus a year-ago loss of $63.6 million, or $1.11 per share. To read the full news, click here.
  • Bayer HealthCare (OTC: BAYRY) and Onyx Pharmaceuticals (NASDAQ: ONXX) today announced that the U.S. Food and Drug Administration (FDA) has granted Priority Review designation to the supplemental New Drug Application (sNDA) for the oral multi-kinase inhibitor Nexavar® (sorafenib) tablets under evaluation for the treatment of locally advanced or metastatic radioactive iodine (RAI)-refractory differentiated thyroid cancer. To read the full news, click here.
  • OncoGenex Pharmaceuticals (NASDAQ: OGXI) today announced initiation of the Rainier™ clinical trial, an investigator-sponsored, randomized, placebo-controlled Phase 2 trial evaluating apatorsen (OGX-427) in combination with ABRAXANE® (paclitaxel protein-bound particles for injectable suspension)(albumin-bound) and gemcitabine in patients with previously untreated metastatic pancreatic cancer. To read the full news, click here.
  • Sanderson Farms (NASDAQ: SAFM) reported a rise in its third-quarter profit. Sanderson's quarterly profit surged to $67.9 million, or $2.95 per share, from $28.7 million, or $1.25 per share, in the year-ago period. To read the full news, click here.

Posted-In: UBS US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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