Market Overview

US Stock Futures Slightly Lower Ahead Of McDonald's Sales Report

US Stock Futures Slightly Lower Ahead Of McDonald's Sales Report

Pre-open movers

US stock futures traded slightly lower in early pre-market trade. McDonald's (NYSE: MCD) is expected to report its sales for May today. The TD Ameritrade Investor Movement Index for May will be released at 12:30 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 7 points to 16,925.00, while the Standard & Poor's 500 index futures fell 1.70 points to 1,947.60. Futures for the Nasdaq 100 index dropped 1.50 points to 3,796.50.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.19%, STOXX Europe 600 Index gaining 0.13%. German DAX 30 index rose 0.07%, French CAC 40 Index fell 0.06% and London's FTSE 100 Index gained 0.18%.

In Asian markets, Japan's Nikkei Stock Average rose 0.31%, Hong Kong's Hang Seng Index climbed 0.73%, China's Shanghai Composite Index gained 0.03% and India's BSE Sensex jumped 0.72%. Japan's current-account surplus came in at Y187.4 billion in April. The country's gross domestic product rose at an annualized rate of 6.7% in the first quarter versus the earlier quarter, up from an initial estimate of a 5.9% growth.

Broker Recommendation

Analysts at Jefferies upgraded Dollar General (NYSE: DG) from “hold” to “buy.” The target price for Dollar General has been raised from $56 to $75.

Dollar General's shares closed at $57.99 on Friday.

Breaking news

  • Trimble (NASDAQ: TRMB) announced today that it has acquired privately-held Mining Information Systems (MIS), headquartered in Perth, Australia. The acquisition will add enterprise-level information management capabilities to Trimble's portfolio of mining solutions. To read the full news, click here.
  • Endurance Specialty Holdings (NYSE: ENH) today commenced an Exchange Offer for all of the outstanding common shares of Aspen Insurance Holdings Limited ("Aspen") (NYSE: AHL). To read the full news, click here.
  • Eclipse Resources (NYSE: ECR) today announced that it has launched its initial public offering of 30,300,000 shares of common stock at an anticipated initial offering price between $27.00 and $30.00 per share pursuant to a registration statement on Form S-1 filed previously with the U.S. Securities and Exchange Commission. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) announced today that it has initiated a Phase 1 study for ISIS-DMPKRx. Isis earned a $14 million milestone payment from Biogen Idec (NASDAQ: BIIB) associated with this achievement. To read the full news, click here.

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


Related Articles (BIIB + AHL)

View Comments and Join the Discussion!

UPDATE: Merck Announces Will Purchase Idenix for $3.85Bn

#PreMarket Primer: Monday, June 9: Tyson Foods Wins Bidding War For Hillshire