Market Overview

US Stock Futures Signal Lower Start On Wall Street

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US Stock Futures Signal Lower Start On Wall Street
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US Stock Futures Signal Lower Start On Wall Street

Pre-open movers

US stock futures traded lower in early pre-market trade. Data on durables goods orders for June will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average dipped 93.5 points to 17,429.5, while the Standard & Poor's 500 index futures fell 8.05 points to 2,069.45. Futures for the Nasdaq 100 index slipped 23.55 points to 4,538.20.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.74 percent, STOXX Europe 600 Index declining 1.21 percent and German DAX 30 index dropping 1.25 percent. French CAC 40 Index slipped 1.46 percent and London's FTSE 100 Index fell 0.18 percent.

In Asian markets, Japan's Nikkei Stock Average declined 0.95 percent, Hong Kong's Hang Seng Index fell 3.09 percent, China's Shanghai Composite Index dropped 8.48 percent and India's BSE Sensex slipped 1.96 percent.

Broker Recommendation
Analysts at Cowen & Company downgraded GrubHub Inc (NYSE: GRUB) from Outperform to Market Perform and lowered the price target from $39.00 to $30.00

GrubHub shares fell 0.12 percent to close at $33.82 on Friday.

Breaking news

  • Xueda Education Group (NYSE: XUE) today announced that it has entered into a definitive agreement and plan of merger with Xiamen Insight Investment Co., Ltd., a joint stock company established under the laws of the People's Republic of China, pursuant to which Insight will acquire Xueda for US$2.75 in cash per ordinary share or US$5.50 in cash per American Depositary Share of the Company. To read the full news, click here.
  • Rocket Fuel (NASDAQ: FUEL) today announced it has strategically expanded its politics and advocacy group to support the growing demand for its programmatic solutions in the political space. To read the full news, click here.
  • AstraZeneca (NYSE: AZN) today announced that it has entered into a definitive agreement with Genzyme to divest Caprelsa┬« (vandetanib), a rare disease medicine. To read the full news, click here.
  • Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) today announced that it has signed a definitive agreement with Allergan plc (NYSE: AGN) to acquire Allergan Generics in a transaction valued at $40.5 billion. To read the full news, click here.

Posted-In: Cowen & Company US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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