Market Overview

A Peek Into The Markets: US Stock Futures Gain Ahead Of Fed Meeting

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A Peek Into The Markets: US Stock Futures Gain Ahead Of Fed Meeting

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Federal Open Market Committee will begin its two-day policy meeting today. Data on housing starts and permits for May will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 108 points to 26,246, while the Standard & Poor’s 500 index futures rose 14 points to 2,910.25. Futures for the Nasdaq 100 index gained 65.25 points to 7,626.50.

Oil prices traded lower as Brent crude futures fell 0.6 percent to trade at $60.55 per barrel, while US WTI crude futures fell 0.4 percent to trade at $51.74 a barrel.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.6 percent, STOXX Europe 600 Index climbing 1 percent and German DAX 30 index gaining 1.2 percent. The UK's FTSE index was trading higher by 0.8 percent, while French CAC 40 Index rose 1.4 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.72 percent, Hong Kong’s Hang Seng Index gained 1 percent, China’s Shanghai Composite Index fell 0.71 percent and India’s BSE Sensex rose 0.22 percent.

Broker Recommendation

Analysts at Raymond James downgraded Lennar Corporation (NYSE: LEN) from Outperform to Market Perform and announced a $55 price target.

Lennar shares fell 1 percent to close at $53.01 on Monday.

Breaking News

  • Ripple reported a strategic partnership with Moneygram International Inc (NASDAQ: MGI).
  • Rockwell Medical Inc (NASDAQ: RMTI) reported a common stock offering. The size was not disclosed.
  • Lannett Company, Inc. (NYSE: LCI) reported a restructuring plan related to Cody Labs. The company says it sees incurring around $5 million in costs to implement Cody API Restructuring Plan.
  • Steel Dynamics, Inc. (NASDAQ: STLD) issued weak earnings guidance for the second quarter.

Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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