Market Overview

A Peek Into The Markets: U.S. Stock Futures Mostly Flat In Pre-Market Trading

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A Peek Into The Markets: U.S. Stock Futures Mostly Flat In Pre-Market Trading

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. The Chicago Fed National Activity Index for July is schedule for release at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average rose 2 points to 21,680.00, while the Standard & Poor’s 500 index futures rose 0.50 points to 2,427.00. Futures for the Nasdaq 100 index slipped 1.25 points to 5,800.00.

Oil prices traded higher as Brent crude futures fell 0.08 percent to trade at $52.68 per barrel, while US WTI crude futures gained 0.35 percent to trade at $48.68 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index gaining 0.18 percent, STOXX Europe 600 Index rising 0.06 percent and German DAX 30 index dropping 0.18 percent. The UK's FTSE index was trading higher by 0.03 percent, while French CAC 40 Index slipped 0.20 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.40 percent, Hong Kong’s Hang Seng Index gained 0.40 percent, China’s Shanghai Composite Index gained 0.56 percent and India’s BSE Sensex fell 0.84 percent.

Broker Recommendation

Analysts at Jefferies downgraded Nike Inc (NYSE: NKE) from Buy to Hold.

Nike shares fell 0.93 percent to $54.44 in pre-market trading.

Breaking news

  • Total SA (ADR) (NYSE: TOT) announced plans to acquire Maersk Oil for $7.45 billion in cash and stock.
  • Build-A-Bear Workshop, Inc (NYSE: BBW) reported a $20 million buyback plans following review of strategic alternatives.
  • Sempra Energy (NYSE: SRE) announced plans to acquire Oncor for $9.45 billion in cash.
  • Shares of 58.com Inc (ADR) (NYSE: WUBA) surged over 7 percent in pre-market trading after the company reported strong results for its second quarter. The company posted quarterly non-GAAP diluted earnings per ADS of US$0.66, and revenue of US$382.8 million.

Posted-In: A Peek Into The Markets JefferiesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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