Market Overview

US Stock Futures Tumble Ahead Of Earnings

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US Stock Futures Tumble Ahead Of Earnings
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Pre-open movers

US stock futures traded lower in early pre-market trade. Data on housing starts for March and weekly jobless claims will be released at 8:30 a.m. ET. The Philadelphia Fed manufacturing index for April will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 59.50 points to 17,962.50, while the Standard & Poor's 500 index futures fell 8.10 points to 2,091.65. Futures for the Nasdaq 100 index slipped 14.85 points to 4,406.90.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 1.46 percent, STOXX Europe 600 Index falling 0.67 percent and German DAX 30 index gaining 1.46 percent. French CAC 40 Index slipped 0.53 percent and London's FTSE 100 Index fell 0.32 percent.

In Asian markets, Japan's Nikkei Stock Average rose 0.08 percent, China's Shanghai Composite Index gained 2.71 percent, Hong Kong's Hang Seng Index rose 0.44 percent and India's BSE Sensex dipped 0.46 percent.

Broker Recommendation
Analysts at Deutsche Bank downgraded SanDisk Corporation (NASDAQ: SNDK) from Buy to Hold. The price target for SanDisk has been lowered from $80 to $65.

SanDisk shares fell 7.97 percent to $65.45 in pre-market trading.

Breaking news

  • Engility Holdings Inc (NYSE: EGL), today announced it has been awarded a prime position on the $7.2 billion Global Intelligence Support Services (GISS) Indefinite Delivery/Indefinite Quantity (IDIQ) multiple-award contract administered by the U.S. Army Intelligence and Security Command (INSCOM). To read the full news, click here.
  • Shares of UnitedHealth Group Inc. (NYSE: UNH) surged around 4 percent in pre-market trading after the company reported better-than-expected results for the first quarter. To read the full news, click here.
  • CollabRx Inc (NASDAQ: CLRX) and Medytox Solutions (OTC: MMMS) today announced that they have entered into a definitive merger agreement. Closing of the merger is subject to, among other things, gaining stockholder approvals from both companies, receipt of regulatory approvals and other customary closing conditions. To read the full news, click here.
  • KeyCorp (NYSE: KEY) reported in-line earnings for the first quarter. To read the full news, click here.

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

 

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