Market Overview

US Stock Futures Flat; Beige Book In Focus

US Stock Futures Flat; Beige Book In Focus
Related OMC
Earnings Scheduled For July 20, 2017
Benzinga's Top Upgrades, Downgrades For June 6, 2017
Related CRZO
Benzinga's Top Upgrades, Downgrades For July 20, 2017
Mid-Afternoon Market Update: Crude Oil Down 3.8%; Monogram Residential Trust Shares Spike Higher

Pre-open movers

US stock futures were mostly flat in early pre-market trade. Data on international trade for July will be released at 8:30 a.m. ET, while the Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average dropped 9 points to 14,818.00, while the Standard & Poor's 500 index futures fell 0.10 points to 1,639.00. Futures for the Nasdaq 100 index gained 4.25 points to 3,090.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.63%, London's FTSE 100 index falling 0.53% and STOXX Europe 600 Index declining 0.42%. German DAX 30 index fell 0.59% and French CAC 40 Index declined 0.79%. UK services PMI surged to 60.5 in August, from 60.2 in July. Euro-zone retail sales rose by 0.1% in July from June.

Asian markets ended mostly higher today. China's Shanghai Composite rose 0.21%, while Japan's Nikkei Stock Average surged 0.54%. Australia's ASX/S&P500 dropped 0.62%, Hong Kong's Hang Seng Index fell 0.31% and India's Sensex jumped 1.83%.

Broker Recommendation

Analysts at Pivotal Research upgraded Omnicom Group (NYSE: OMC) from “hold” to “buy.” The target price for Omnicom Group has been raised from $66 to $72.

Omnicom Group's shares closed at $60.66 yesterday.

Breaking news

  • Carrizo Oil & Gas (NASDAQ: CRZO) today announced the sale of its remaining Barnett Shale properties as well as other non-core assets in East Texas and the Marcellus Shale. To read the full news, click here.
  • Mirati Therapeutics (NASDAQ: MRTX) today announced the appointment of Isan Chen, M.D., as chief medical and development officer as well as the appointment of Craig Johnson to its board of directors and as the chairman of the audit committee. To read the full news, click here.
  • Rockwood Holdings (NYSE: ROC) announced today that it completed the sale of CeramTec, its advanced ceramics business to Cinven, a European private equity firm for purchase price of EUR 1.49 billion, subject to customary adjustments. To read the full news, click here.
  • Dollar General (NYSE: DG) reported a rise in its second-quarter profit. Dollar General's quarterly profit surged to $245.5 million, or $0.75 per share, from $214.1 million, or $0.64 per share, in the year-ago period. To read the full news, click here.

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


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