Market Overview

A Peek Into The Markets: US Stock Futures Down Following Monday's Rally

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A Peek Into The Markets: US Stock Futures Down Following Monday's Rally

Pre-open movers

U.S. stock futures traded lower in early pre-market trade, after posting gains in the earlier session. The Labor Department's JOLTS report for May will be released at 10:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 9:00 a.m. ET, while Federal Reserve Vice Chairman for Supervision Randal Quarles will speak at 1:00 p.m. ET. Richmond Fed President Thomas Barkin is set to speak at 2:00 p.m. ET, while Federal Reserve Bank of San Francisco President Mary Daly will speak at 2:00 p.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 2,938,620 with around 130,300 deaths. Brazil confirmed over 1,623,280 cases, while India reported a total of at least 719,660 confirmed cases.

Futures for the Dow Jones Industrial Average dropped 292 points to 25,887 while the Standard & Poor’s 500 index futures traded fell 28.75 points to 3,143.25. Futures for the Nasdaq 100 index fell 52.5 points to 10,546.00.

Oil prices traded lower as Brent crude futures fell 0.7% to trade at $42.81 per barrel, while US WTI crude futures fell 0.8% to trade at $40.29 a barrel.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.9% and STOXX Europe 600 Index declining 0.6%. The UK's FTSE index was trading lower by 0.9%, while French CAC 40 Index fell 0.7% and German DAX 30 declined 0.9%.

In Asian markets, Japan’s Nikkei fell 0.44%, Hong Kong’s Hang Seng Index fell 1.47%, China’s Shanghai Composite Index gained 0.37% and India’s BSE Sensex rose 0.1%.

Broker Recommendation

Analysts at KeyBanc upgraded Skyworks Solutions, Inc. (NASDAQ: SWKS) from Sector Weight to Overweight and announced a $150 price target.

Skyworks shares rose 0.8% to $132.44 in pre-market trading.

Breaking News

  • Cellectis SA (NASDAQ: CLLS) disclosed that a clinical hold was placed on its MELANI-01 study.
  • Samsung Electronics Co Ltd (OTC: SSNLF) said it expects a 23% surge in its operating profit for the second quarter ended June 30.
  • Sirius XM Holdings Inc (NASDAQ: SIRI) is set to purchase Stitcher Inc, a unit of E.W. Scripps Co (NASDAQ: SSP) for around $300 million to expand its presence in the podcasting segment, the Wall Street Journal reported.
  • Sunrun Inc. (NASDAQ: RUN) agreed to acquire Vivint Solar, Inc. (NYSE: VSLR) in an all-stock transaction.
 

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