Market Overview

US Stock Futures Down Ahead Of Factory Orders Data

US Stock Futures Down Ahead Of Factory Orders Data
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Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of factory orders data. Data on motor vehicle sales for May will be released today, while factory orders data for April will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 27 points to 16,695.00, while the Standard & Poor's 500 index futures fell 3.70 points to 1,918.10. Futures for the Nasdaq 100 index declined 8.50 points to 3,719.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.32%, STOXX Europe 600 Index declining 0.33%. German DAX 30 index fell 0.27%, French CAC 40 Index dropped 0.16% and London's FTSE 100 Index declined 0.38%. UK's house prices rose 0.7% on the month in May.

In Asian markets, Japan's Nikkei Stock Average jumped 0.66%, Hong Kong's Hang Seng Index jumped 0.91%, China's Shanghai Composite Index fell 0.04% and India's BSE Sensex surged 0.70%. Australia's current account deficit narrowed to A$5.67 billion in the first quarter, while retail sales increased 0.2% y/y in April. China's official nonmanufacturing PMI surged to 55.5 in May, versus 54.8 in April. The Reserve Bank of India left its key rate unchanged at 8%.

Broker Recommendation

Analysts at Citigroup downgraded Centene (NYSE: CNC) from “neutral” to “sell.”

Centene's shares closed at $75.69 yesterday.

Breaking news

  • Healthcare Trust of America (NYSE: HTA) announced today that it was under contract to acquire six medical office buildings ("MOBs") located in major east coast markets, including Boston, Miami and Baltimore for a total consideration of $200 million. To read the full news, click here.
  • Pilgrim's Pride (NASDAQ: PPC) today confirmed that on June 1, 2014, it submitted a revised proposal to acquire The Hillshire Brands Company (NYSE: HSH) for $55.00 per share in cash in a transaction valued at $7.7 billion. To read the full news, click here.
  • Spherix (NASDAQ: SPEX) today announced that it has completed a $20 million equity financing consisting of 10 million shares of Series J Convertible Preferred Stock at $2 per share to raise gross proceeds of $20 million, before payment of placement agent fees and other expenses of the offering payable by us. To read the full news, click here.
  • Graphic Packaging Holding Company (NYSE: GPK) today announced that it and its wholly owned subsidiary Graphic Packaging International, have entered into a definitive agreement to sell their Multi-wall Bag business to Mondi Group. To read the full news, click here.

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


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