Market Overview

A Peek Into The Markets: US Stock Futures Mostly Flat Ahead Of Economic Data

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A Peek Into The Markets: US Stock Futures Mostly Flat Ahead Of Economic Data
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Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Data on initial jobless claims for the latest week, retail sales for May and import prices for May will be released at 8:30 a.m. ET. Business inventories report for May is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average rose 1 point to 25,209.00, while the Standard & Poor’s 500 index futures traded flat at 2,7795. Futures for the Nasdaq 100 index dropped 5.75 points to 7,225.25.

Oil prices traded mixed as Brent crude futures fell 0.39 percent to trade at $76.44 per barrel, while US WTI crude futures rose 0.24 percent to trade at $66.80 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.20 percent, STOXX Europe 600 Index dropping 0.46 percent and German DAX 30 index falling 0.27 percent. The UK's FTSE index was trading lower by 0.54 percent, while French CAC 40 Index fell 0.17 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.99 percent, Hong Kong’s Hang Seng Index dropped 0.93 percent, China’s Shanghai Composite Index fell 0.18 percent and India’s BSE Sensex fell 0.39 percent.

Broker Recommendation

Analysts at KeyBanc downgraded Steel Dynamics, Inc. (NASDAQ: STLD) from Overweight to Sector Weight.

Steel Dynamics shares fell 1.21 percent to close at $49.18 on Wednesday.

Breaking news

  • Tailored Brands Inc (NYSE: TLRD) reported better-than-expected results for its first quarter. Comps were up 2.1 percent in the quarter.
  • ACCO Brands Corporation (NYSE: ACCO) reported the purchase of GOBA Int'l. for $31 million in cash.
  • Culp, Inc. (NYSE: CULP) reported weaker-than-expected earnings for its fourth quarter on Wednesday. The company sees first-quarter sales down 10 percent year over year.
  • Aqua Metals Inc (NASDAQ: AQMS) disclosed a common stock offering.

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

 

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