Market Overview

US Stock Futures Decline Ahead Of Economic Data

Share:
US Stock Futures Decline Ahead Of Economic Data

Pre-open movers

US stock futures fell in early pre-market trade, ahead of economic data. The Empire State manufacturing index for June will be released at 8:30 a.m. ET, while industrial production data for May will be released at 9:15 a.m. ET. The NAHB housing market index for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 40 points to 16,657.00, while the Standard & Poor's 500 index futures fell 4.80 points to 1,923.50. Futures for the Nasdaq 100 index declined 8.50 points to 3,760.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.90%, STOXX Europe 600 Index declining 0.41%. German DAX 30 index fell 0.26%, French CAC 40 Index declined 0.49% and London's FTSE 100 Index slipped 0.30%.

In Asian markets, Japan's Nikkei Stock Average fell 1.09%, Hong Kong's Hang Seng Index dropped 0.08%, China's Shanghai Composite Index surged 0.74% and India's BSE Sensex fell 0.15%.

Broker Recommendation

Analysts at JP Morgan upgraded DISH Network (NASDAQ: DISH) from “neutral” to “overweight.” The target price for DISH Network has been raised from $61 to $72.

DISH Network's shares closed at $58.96 on Friday.

Breaking news

  • Compugen (NASDAQ: CGEN) disclosed today positive experimental results for CGEN-15052, a novel immune checkpoint candidate for cancer immunotherapy, which in several experimental settings demonstrated robust inhibition of T cell activation, both as a membrane protein and as an Fc fusion protein. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) announced today the final results from its Phase 2 study of ISIS-GCGR[Rx] in patients with type 2 diabetes uncontrolled on stable metformin therapy. To read the full news, click here.
  • Hill-Rom Holdings (NYSE: HRC) today announced the signing of a definitive agreement to purchase TRUMPF Medical, the medical unit of the privately held TRUMPF Group, for approximately $250 million in cash. To read the full news, click here.
  • Medtronic (NYSE: MDT) and Covidien plc (NYSE: COV) today announced that they have entered into a definitive agreement under which Medtronic has agreed to acquire Covidien in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9 billion, based on Medtronic's closing stock price of $60.70 per share on June 13, 2014. To read the full news, click here.

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

 

Related Articles (CGEN + COV)

View Comments and Join the Discussion!

Biogen, AbbVie Report Positive Top-Line Results from Phase 3 Trial of Daclizumaba for MS

#PreMarket Primer: Monday, June 16: Rebels Seize Another Iraqi City