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Market Overview

US Stock Futures Edge Lower Ahead Of Earnings

US Stock Futures Edge Lower Ahead Of Earnings

Pre-open movers

US stock futures traded slightly lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 11 points to 16,470.00, while the Standard & Poor's 500 index futures fell 1.50 points to 1,880.80. Futures for the Nasdaq 100 index declined 3 points to 3,610.25.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.14%, STOXX Europe 600 Index falling 0.05%. German DAX 30 index tumbled 0.21%, French CAC 40 Index fell 0.32% and London's FTSE 100 Index dropped 0.47%. UK's annual rate of inflation rose to 1.8% in April versus 1.6% a month ago.

In Asian markets, Japan's Nikkei Stock Average gained 0.49%, Hong Kong's Hang Seng Index rose 0.57%, China's Shanghai Composite Index surged 0.15% and India's BSE Sensex gained 0.06%.

Broker Recommendation

Analysts at Wells Fargo downgraded J.C. Penney Company (NYSE: JCP) from “market perform” to “underperform.”

J.C. Penney's shares gained 0.43% to $9.40 in pre-market trading.

Breaking news

  • Aeroflex Holding (NYSE: ARX) today announced that it has entered into a merger agreement with Cobham plc, a UK-listed company that designs and manufactures a wide range of equipment, specialized systems and components for the aerospace, defense, energy, and electronics industries. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) announced today that it initiated a Phase 1 clinical study of ISIS-PKKRx. ISIS-PKKRx is an antisense drug in development to treat patients with hereditary angioedemia (HAE). To read the full news, click here.
  • Home Depot (NYSE: HD) reported a rise in its fiscal first-quarter earnings and raised its earnings forecast for the year. To read the full news, click here.
  • Staples (NASDAQ: SPLS) reported a drop in its fiscal first-quarter profit. Staples posted its quarterly earnings of $96.2 million, or $0.15 per share, versus $169.9 million, or $0.26 per share, in the year-ago period. Excluding certain items, it earned $0.18 per share. To read the full news, click here.

Related Articles (JCP + ARX)

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Posted-In: US Stock Futures Wells FargoNews Eurozone Futures Global Pre-Market Outlook Markets

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