Market Overview

A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

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A Peek Into The Markets: U.S. Stock Futures Signal Lower Start On Wall Street

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The U.S. Treasury budget report for May is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average declined 37 points to 21,170.00, while the Standard & Poor’s 500 index futures fell 6.25 points to 2,422.00. Futures for the Nasdaq 100 index tumbled 48.50 points to 5,699.75.

Oil prices traded higher as Brent crude futures rose 1.52 percent to trade at $48.88 per barrel, while US WTI crude futures rose 1.35 percent to trade at $46.45 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.03 percent, STOXX Europe 600 Index dropping 0.83 percent and German DAX 30 index dropping 0.84 percent. The UK's FTSE index was trading lower by 0.14 percent, while French CAC 40 Index fell 0.96 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.52 percent, Hong Kong’s Hang Seng Index fell 1.24 percent, China’s Shanghai Composite Index declined 0.59 percent and India’s BSE Sensex fell 0.53 percent.

Broker Recommendation

Analysts at Baird downgraded DuPont Fabros Technology, Inc. (NYSE: DFT) from Outperform to Neutral.

Dupont Fabros shares climbed 9.83 percent to close at $60.80 on Friday.

Breaking news

  • Shares of Rite Aid Corporation (NYSE: RAD) fell sharply Friday on a report from Capitol Forum that the Federal Trade Commission is preparing advice to block Walgreens Boots Alliance Inc (NASDAQ: WBA) acquisition of the drug chain. Rite Aid reported last week that ongoing discussions with the FTC were taking longer than expected, but a decision was expected soon.
  • Bioverativ Inc (NASDAQ: BIVV) reported the FDA acceptance of Investigational New Drug application for BIVV001 to treat Hemophilia A.
  • Golden Entertainment Inc (NASDAQ: GDEN) announced plans to acquire American Casing & Entertainment Properties for $850 million.
  • PLx Pharma Inc (NASDAQ: PLXP) disclosed that it has priced 2.65 million share direct offering at $6.875 per share.

Posted-In: BairdM&A News Eurozone Futures Global Pre-Market Outlook Markets

 

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