Market Overview

US Stock Futures Tumble, China's Shanghai Plunges 8.5%

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US Stock Futures Tumble, China's Shanghai Plunges 8.5%

Pre-open movers

US stock futures traded lower in early pre-market trade. China's Shanghai Composite Index dipped 8.49 percent today. The Chicago Fed National Activity Index for July will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average dropped 414.5 points to 16,052.5, while the Standard & Poor's 500 index futures fell 45.55 points to 1,925.95. Futures for the Nasdaq 100 index slipped 166.45 points to 4,034.30.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 2.83 percent, STOXX Europe 600 Index declining 3.34 percent and German DAX 30 index dropping 2.79 percent. French CAC 40 Index declined 3.05 percent and London's FTSE 100 Index fell 2.78 percent.

In Asian markets, Japan's Nikkei Stock Average fell 4.61 percent, Hong Kong's Hang Seng Index declined 5.17 percent, China's Shanghai Composite Index dipped 8.49 percent and India's BSE Sensex fell 5.94 percent.

Broker Recommendation
Analysts at Stifel Nicolaus upgraded Tuesday Morning Corporation (NASDAQ: TUES) from Hold to Buy and announced a price target of $9.00.

Tuesday Morning shares gained 0.85 percent to $5.96 in pre-market trading.

Breaking news

  • DaVita HealthCare Partners Inc (NYSE: DVA) announced that it has entered into an agreement to acquire Colorado-based Renal Ventures Limited, LLC – including a 100 percent interest in all dialysis centers owned by Renal Ventures – for $415 million. To read the full news, click here.
  • The Ensign Group, Inc. (NASDAQ: ENSG) announced today that Cornerstone Healthcare, Inc., Ensign's home health and hospice portfolio subsidiary, had acquired Apismellis Homecare, a Medicare and Medicaid certified home health agency serving the communities of Lake Havasu City, Bullhead City, and Parker, Arizona, and Big River, California. The acquisition was effective August 15, 2015. To read the full news, click here.
  • AstraZeneca plc (ADR) (NYSE: AZN) and Peregrine Pharmaceuticals (NASDAQ: PPHM) today announced that they have entered into a cancer immunotherapy clinical trial collaboration. To read the full news, click here.
  • Softbank Corp. (Japan) (OTC: SFTBY) and Netflix, Inc. (NASDAQ: NFLX) announced SoftBank will exclusively offer a fully integrated Netflix experience, including billing, when Netflix Japan launches on September 2. To read the full news, click here.

Posted-In: Stifel Nicolaus US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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