US Stock Futures Flat Ahead Of Economic Data

Courtesy of Benzinga.

Pre-open movers

US stock futures traded mostly flat in early pre-market trade. Data on motor vehicle sales will be released today. Data on consumer spending for June will be released at 8:30 a.m. ET, while the manufacturing PMI for July will be released at 9:45 a.m. ET. The ISM manufacturing index and construction spending data for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 3.5 points to 17,617.5, while the Standard & Poor’s 500 index futures fell 0.55 points to 2,097.95. Futures for the Nasdaq 100 index slipped 0.30 points to 4,584.70.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.62 percent, STOXX Europe 600 Index climbing 0.65 percent and German DAX 30 index gaining 0.68 percent. French CAC 40 Index jumped 0.56 percent and London’s FTSE 100 Index fell 0.07 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.18 percent, Hong Kong’s Hang Seng Index fell 0.91 percent, China’s Shanghai Composite Index dipped 1.11 percent and India’s BSE Sensex climbed 0.26 percent.

Broker Recommendation
Analysts at Morgan Stanley downgraded Starz (NASDAQ: STRZA) from Overweight to Equal-weight and lowered the price target from $46.00 to $42.00.

Starz shares dipped 1.10 percent to close at $40.45 on Friday.

Breaking news

• OraSure Technologies, Inc. (NASDAQ: OSUR) announced today that it has received a U.S. Food and Drug Administration (FDA) Emergency Use Authorization (EUA) for its OraQuick® Ebola Rapid Antigen Test for use with fingerstick and venous whole blood. To read the full news, click here.
• AUDI AG, the BMW Group and Daimler AG (OTC: DDAIF) have agreed with Nokia Corporation that they will acquire its mapping and location services business HERE. To read the full news, click here.
• Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX) today announced that the pivotal TELESTAR Phase 3 clinical trial met its primary endpoint, showing the benefit of oral telotristat etiprate in treating cancer patients with carcinoid syndrome that is not adequately controlled by the current standard of care. To read the full news, click here.
• Genesee & Wyoming Inc (NYSE: GWR) reported better-than-expected earnings for the second quarter on Monday. To read the full news, click here.

Posted-In: Morgan Stanley US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets