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Market Overview

US Stock Futures Signal Lower Start On Wall Street

US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

US stock futures traded lower in early pre-market trade. The Empire State manufacturing 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 dropped 65.50 points to 17,753.50, while the Standard & Poor's 500 index futures fell 7.55 points to 2,077.45. Futures for the Nasdaq 100 index declined 18.25 points to 4,429.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.59 percent, STOXX Europe 600 Index declining 1.19 percent and German DAX 30 index dropping 1.61 percent. French CAC 40 Index slipped 1.23 percent and London's FTSE 100 Index fell 0.74 percent.

In Asian markets, Japan's Nikkei Stock Average fell 0.09 percent, China's Shanghai Composite Index tumbled 2 percent, Hong Kong's Hang Seng Index slipped 1.53 percent and India's BSE Sensex rose 0.61 percent.

Broker Recommendation
Analysts at Morgan Stanley downgraded SanDisk Corporation (NASDAQ: SNDK) from Overweight to Equalweight and lowered the price target from $80.00 to $75.00.

SanDisk shares fell 1.74 percent to $64.95 in pre-market trading.

Breaking news

  • Science Applications International Corp. (NYSE: SAIC) was awarded three prime contracts for the Tank and Automotive Command (TACOM) Strategic Service Solutions (TS3) family of contracts. To read the full news, click here.
  • Apricus Biosciences, Inc. (NASDAQ: APRI) today announced that it has enrolled the last patient in its RayVa™ Phase 2a proof-of-concept study. To read the full news, click here.
  • Oncolytics Biotech Inc. (NASDAQ: ONCY) today announced that a series of oral and poster presentations are being made by the Company's research collaborators at the 9th International Conference on Oncolytic Virus Therapeutics being held from June 13th to 16th, 2015 in Boston MA. To read the full news, click here.
  • Standard Pacific Corp. (NYSE: SPF) and The Ryland Group, Inc. (NYSE: RYL) today jointly announced that their respective boards of directors have unanimously approved a definitive merger agreement pursuant to which Standard Pacific and Ryland will combine in a merger of equals to create a single company that would have an equity market capitalization of approximately $5.2 billion, an enterprise value of approximately $8.2 billion, and would own or control approximately 74,000 homesites. To read the full news, click here.

Related Articles (SAIC + APRI)

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Posted-In: Morgan Stanley US Stock FuturesNews Eurozone Futures Pre-Market Outlook Markets Trading Ideas

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