Pre-open movers
U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Alcoa Inc (NYSE: AA). Kansas City Federal Reserve Bank President Esther George is set to speak in
Lake Ozark, Missouri, while Cleveland Federal Reserve Bank President Loretta J. Mester will speak in Sydney, Australia. The Fed
labor market conditions index for June is scheduled for release at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 81 points to 18,117.00, while the Standard & Poor’s 500 index futures rose
8.75 points to 2,128.75. Futures for the Nasdaq 100 index gained 25.25 points to 4,542.25.
Oil prices traded lower as Brent crude futures fell 0.96 percent to trade at $46.31 per barrel, while US WTI crude futures also
dropped 1.01 percent to trade at $44.95 a barrel.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index gaining 1.03 percent, STOXX Europe 600 Index rising 1.06 percent
and German DAX 30 index gaining 1.43 percent. The UK's FTSE index was trading higher by 0.86 percent, while French CAC 40 Index
gained 1.23 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 3.98 percent, Hong Kong’s Hang Seng Index rose 1.54 percent, China’s
Shanghai Composite Index gained 0.23 percent and India’s BSE Sensex jumped 1.84 percent.
Broker Recommendation
Analysts at Wells Fargo downgraded Viacom, Inc. (NASDAQ: VIAB) from Market Perform to Underperform.
Viacom shares fell 0.88 percent to $44.80 in pre-market trading.
Breaking news
- Nichi-Iko Pharmaceutical Co., Ltd announced plans to acquire Sagent Pharmaceuticals Inc (NASDAQ: SGNT) for $21.75 per share in an all cash transaction. To read the full
news, click here.
-
Bank of the Ozarks Inc (NASDAQ: OZRK) announced
21.7 percent growth in profit for the second quarter driven by 27 percent increase in net interest income. Earnings came in
above the Street analysts' expectations. To read the full news, click here.
-
Avnet, Inc. (NYSE: AVT) revealed that it appointed a
member of its Board of Director, William Amelio, as interim CEO effective immediately. Amelio would replace Rick Hamada, who
resigned his position from both the CEO, as well as the Director. The company also slashed its forecast for the fourth quarter
that ended July 2. To read the full news, click here.
-
DDR Corp (NYSE: DDR) named Thomas F. August as its
new CEO.
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