Pre-open movers
U.S. stock futures traded mixed in early pre-market trade, ahead of earnings from Monsanto Company (NYSE: MON). A report on U.S. international trade in goods for May will be
released at 8:30 a.m. ET, while the pending home sales index for May is schedule for release at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average gained 13 points to 21,304.00, while the Standard & Poor’s 500 index futures rose 2
points to 2,422.50. Futures for the Nasdaq 100 index declined 18.75 points to 5,657.75.
Oil prices traded lower as Brent crude futures fell 0.21 percent to trade at $46.55 per barrel, while US WTI crude futures
dropped 0.47 percent to trade at $44.03 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in
the U.S. will be released at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index rising 0.01 percent, STOXX Europe 600 Index declining 0.35
percent and German DAX 30 index dropping 0.46 percent. The UK's FTSE index was trading lower by 0.01 percent, while French CAC 40
Index fell 0.29 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.47 percent, Hong Kong’s Hang Seng Index declined 0.61 percent, China’s
Shanghai Composite Index dropped 0.56 percent and India’s BSE Sensex fell 0.40 percent.
Broker Recommendation
Analysts at JP Morgan initiated coverage on Altaba Inc (NASDAQ: AABA) with an Overweight rating and a $65.00 price target.
Altaba shares fell 0.26 percent to $53.50 in pre-market trading.
Breaking news
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Koninklijke Philips NV (ADR) (NYSE: PHG)
announced plans to acquire Spectranetics Corp (NASDAQ: SPNC) for $38.50 per share.
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KB Home (NYSE: KBH) reported better-than-expected
results for its second quarter on Tuesday.
-
First Potomac Realty Trust (NYSE: FPO) agreed to be
acquired by Government Properties Income Trust (NYSE: GOV) in a transaction valued at $1.4 billion, including debt.
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General Mills, Inc. (NYSE: GIS) posted upbeat
earnings for its fourth quarter on Wednesday.
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