Market Overview

A Peek Into The Markets: US Stock Futures Drop, Dow Futures Down Over 150 Points

A Peek Into The Markets: US Stock Futures Drop, Dow Futures Down Over 150 Points
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Pre-open movers

U.S. stock futures traded lower in early pre-market trade. The Chicago Fed National Activity Index for May is schedule for release at 8:30 a.m. ET, while the new home sales report for May will be released at 10:00 a.m. ET. The Dallas Fed manufacturing index for June is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average tumbled 172 points to 24,427.00, while the Standard & Poor’s 500 index futures traded fell 14.75 points to 2,744.75. Futures for the Nasdaq 100 index declined 62 points to 7,160.75.

Oil prices traded lower as Brent crude futures fell 1.80 percent to trade at $74.19 per barrel, while US WTI crude futures fell 0.15 percent to trade at $68.48 a barrel..

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index falling 1.24 percent, STOXX Europe 600 Index declining 1.07 percent and German DAX 30 index dropping 1.40 percent. The UK's FTSE index was trading lower by 1.16 percent, while French CAC 40 Index slipped 0.80 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.79 percent, Hong Kong’s Hang Seng Index dropped 1.20 percent, China’s Shanghai Composite Index fell 1.05 percent and India’s BSE Sensex fell 0.61 percent.

Broker Recommendation

Analysts at Guggenheim downgraded CarMax, Inc. (NYSE: KMX) from Buy to Neutral.

CarMax shares fell 1.87 percent to $78.69 in pre-market trading.

Breaking news

  • General Electric Company (NYSE: GE) is nearing a deal to sell industrial-engines unit to private equity firm Advent International, The Wall Street Journal reported.

  • Glaukos Corporation (NYSE: GKOS) disclosed that it has received the FDA approval for iStent inject for glaucoma patients.

  • Trovagene, Inc. (NASDAQ: TROV) disclosed that William Welch has resigned as Chief Executive Officer for personal reasons. The company named Dr. Thomas Adams as interim CEO.

  • First Defiance Financial (NASDAQ: FEDF) reported a two-for-one stock split payable on July 12 to shareholders of record on July 2.




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


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