Market Overview

US Stock Futures Drop Ahead Of New Home Sales, Durable Goods Data

US Stock Futures Drop Ahead Of New Home Sales, Durable Goods Data

Pre-open movers

US stock futures declined in early pre-market trade, ahead of economic data. Data on durable goods orders for August will be released at 8:30 a.m. ET, while new home sales data for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 21 points to 15,265.00, while the Standard & Poor's 500 index futures fell 3 points to 1,689.50. Futures for the Nasdaq 100 index declined 3.50 points to 3,209.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.08%, London's FTSE 100 index dropping 0.32% and STOXX Europe 600 Index declining 0.36%. German DAX 30 index fell 0.39% and French CAC 40 Index declined 0.48%. The French business sentiment index fell to 97 in September, versus 98 in August.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average fell 0.76%, China's Shanghai Composite declined 0.41% and Australia's ASX/S&P500 gained 0.78%. Hong Kong's Hang Seng index rose 0.13% and India's Sensex declined 0.32%.

Broker Recommendation

Analysts at Bank of America downgraded Carnival Corporation (NYSE: CCL) from “buy” to “neutral.” The target price for Carnival has been lowered from $42.80 to $38.50.

Carnival's shares dropped 4.81% to $32.88 in pre-market trading.

Breaking news

  • Myriad Genetics (NASDAQ: MYGN) today announced new data published in Clinical Cancer Research that showed the myPlan Lung Cancer test is a significant predictor of lung cancer death in patients with early-stage, resectable lung adenocarcinoma and may be a valuable tool for selecting which early-stage patients should be considered for additional post-surgical chemotherapy. To read the full news, click here.
  • Capital Bank Financial (NASDAQ: CBF) today announced its board of directors authorized the repurchase of up to $100 million of its common stock, from time to time, subject to market conditions and other factors. Repurchases under the program may be made through open market or privately negotiated transactions at times and in such amounts as management deems appropriate, subject to market conditions, regulatory requirements and other factors. To read the full news, click here.
  • Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has agreed to buy Metropolitan Real Estate Equity Management, LLC, a global manager of real estate funds of funds with more than $2.6 billion in capital commitments. To read the full news, click here.
  • Oncothyreon (NASDAQ: ONTY) today announced that Merck Serono, the biopharmaceutical division of Merck KGaA, has decided to continue clinical development of the investigational MUC1 antigen-specific cancer immunotherapy tecemotide (also known as L-BLP25 and formerly known as Stimuvax®). To read the full news, click here.

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Posted-In: Bank of America US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets