Market Overview

US Stock Futures Slip Ahead Of Economic Data

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US Stock Futures Slip Ahead Of Economic Data

Pre-open movers

US stock futures traded lower in early pre-market trade. The Producer Price Index for July will be released at 8:30 a.m. ET, while industrial production data for July will be released at 9:15 a.m. ET. The University of Michigan's consumer sentiment index for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 39.5 points to 17,329.5, while the Standard & Poor's 500 index futures fell 6.05 points to 2,074.45. Futures for the Nasdaq 100 index slipped 13.35 points to 4,503.90.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.50 percent, STOXX Europe 600 Index declining 0.23 percent and German DAX 30 index dropping 0.42 percent. French CAC 40 Index dropped 0.52 percent and London's FTSE 100 Index fell 0.11 percent.

In Asian markets, Japan's Nikkei Stock Average fell 0.37 percent, Hong Kong's Hang Seng Index declined 0.12 percent, China's Shanghai Composite Index climbed 0.27 percent and India's BSE Sensex rose 1.88 percent.

Broker Recommendation
Analysts at JP Morgan downgraded King Digital Entertainment PLC (NYSE: KING) from Overweight to Neutral and lowered the price target from $20.00 to $17.00.

King Digital shares fell 2.75 percent to close at $15.20 yesterday.

Breaking news

  • El Pollo LoCo Holdings Inc (NASDAQ: LOCO) reported downbeat sales for the second quarter. However, the company's earnings exceeded analysts' estimates. To read the full news, click here.
  • GENMAB A/S DKK (OTC: GNMSF) announced today it has entered an agreement to grant Novo Nordisk A/S (ADR) (NYSE: NVO) commercial licenses to use the DuoBody technology platform to create and develop bispecific antibody candidates for two therapeutic programs. To read the full news, click here.
  • Applied Materials, Inc. (NASDAQ: AMAT) reported in-line earnings for its fiscal third quarter, but the company's sales missed analysts' estimates. The company also issued a weak forecast for the current quarter. To read the full news, click here.
  • Prima Biomed Ltd. (NASDAQ: PBMD) today announced it will receive an undisclosed clinical milestone payment from its collaboration and licensing agreement with Novartis AG (ADR) (NYSE: NVS) relating to its Phase I IMP701 LAG-3 antibody. To read the full news, click here.

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

 

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