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. Data on productivity and costs for the second quarter will be released at 8:30 a.m. ET, while wholesale inventories data for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dipped 98.5 points to 17,454.5, while the Standard & Poor's 500 index futures fell 10.30 points to 2,089.45. Futures for the Nasdaq 100 index declined 7.40 points to 4,558.60.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.50 percent, STOXX Europe 600 Index dropping 0.82 percent and German DAX 30 index dropping 1.49 percent. French CAC 40 Index slipped 0.92 percent and London's FTSE 100 Index fell 0.61 percent.

In Asian markets, Japan's Nikkei Stock Average fell 0.42 percent, Hong Kong's Hang Seng Index declined 0.09 percent, China's Shanghai Composite Index dropped 0.01 percent and India's BSE Sensex fell 0.84 percent.

Broker Recommendation
Analysts at Monness Crespi Hardt upgraded Google Inc (NASDAQ: GOOG) from Neutral to Buy.

Google shares gained 5.42 percent to $668.06 in pre-market trading.

Breaking news

  • Towers Watson & Co (NYSE: TW) reported better-than-expected results for its fiscal fourth quarter. To read the full news, click here.
  • Terex Corporation (NYSE: TEX) and KONECRANES PLC ADR (OTC: KNCRY) today jointly announced that their respective Boards of Directors have unanimously approved a definitive business combination agreement and the resulting all-stock merger of equals. To read the full news, click here.
  • Shares of Google Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) rose roughly 5 percent in pre-market trading, after management announced it is creating a new company, Alphabet, which will consist of a collection of companies, with the largest being Google. To read the full news, click here.
  • Symantec Corporation (NASDAQ: SYMC) reported weaker-than-expected earnings for its fiscal first quarter and issued a weak forecast for the current quarter. The company also agreed to sell its Veritas business to a group of investors led by The Carlyle Group for $8 billion in cash. To read the full news, click here.

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Posted-In: Monness Crespi Hardt US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets