Market Overview

US Stock Futures Tumble Ahead Of Economic Data

US Stock Futures Tumble Ahead Of Economic Data
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Pre-open movers

US stock futures traded lower in early pre-market trade. Data on weekly jobless claims will be released at 8:30 a.m. ET. The Philadelphia Fed general conditions index for August, the leading economic indicators index for July and existing home sales data for July will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 123.5 points to 17,161.5, while the Standard & Poor's 500 index futures fell 14.10 points to 2,058.65. Futures for the Nasdaq 100 index slipped 31.05 points to 4,472.70.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.94 percent, STOXX Europe 600 Index declining 1.35 percent and German DAX 30 index dropping 1.10 percent. French CAC 40 Index declined 1.07 percent and London's FTSE 100 Index fell 0.48 percent.

In Asian markets, Japan's Nikkei Stock Average fell 0.94 percent, Hong Kong's Hang Seng Index declined 1.77 percent, China's Shanghai Composite Index dipped 3.42 percent and India's BSE Sensex fell 1.16 percent.

Broker Recommendation
Analysts at Deutsche Bank upgraded Hormel Foods Corp (NYSE: HRL) from Hold to Buy and raised the price target from $59.00 to $66.00.

Hormel Foods shares rose 1.16 percent to close at $61.22 yesterday.

Breaking news

  • Tech Data Corp (NASDAQ: TECD) reported stronger-than-expected results for its second quarter on Thursday. To read the full news, click here.
  • Sears Holdings Corp (NASDAQ: SHLD) reported a profit in the second quarter on Thursday. To read the full news, click here.
  • Macrocure Ltd (NASDAQ: MCUR) announced Wednesday, that a pre-specified, futility analysis conducted by the Data Safety Monitoring Board for CureXcell® – the Company's lead product candidate in its Phase 3 pivotal clinical study (MC-105) for venous leg ulcers (VLU) – determined that this study is not expected to meet its primary endpoint. To read the full news, click here.
  • NetApp Inc. (NASDAQ: NTAP) reported stronger-than-expected earnings for its fiscal first quarter and issued a strong forecast for the current 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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