U.S. stock futures traded lower in early pre-market trade. The PMI manufacturing index for June is schedule for release at 9:45 a.m. ET. The ISM manufacturing index for June and data on construction spending for May will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average declined 88 points to 24,132.00, while the Standard & Poor’s 500 index futures traded fell 13.35 points to 2,708.50. Futures for the Nasdaq 100 index dipped 45.25 points to 7,022.75.
Oil prices traded lower as Brent crude futures fell 0.66 percent to trade at $78.71 per barrel, while US WTI crude futures fell 0.09 percent to trade at $74.08 a barrel.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.91 percent, STOXX Europe 600 Index declining 0.87 percent and German DAX 30 index dropping 0.47 percent. The UK’s FTSE index was trading lower by 0.94 percent, while French CAC 40 Index dipped 1.09 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 2.21 percent, Hong Kong’s Hang Seng Index climbed 1.61 percent, China’s Shanghai Composite Index declined 2.52 percent and India’s BSE Sensex slipped 0.45 percent.
Analysts at Morgan Stanley upgraded Wells Fargo & Company WFC from Underweight to Equal-Weight and raised the price target from $57 to $62.
Wells Fargo shares fell 0.34 percent to $55.25 in pre-market trading.
- Archer-Daniels-Midland CompanyADM is in talks to acquire French animal feed company Neovia for $1.75 billion, Reuters reported.
- Mesoblast Limited MESOdisclosed that it has entered into a $50 million financing with Novaquest Capital for commercial readiness of Remestemcel-l.
- Dell Technologies Inc.DVMT announced plans to buy out VMWare tracking stock in a cash and equity deal.
- Compugen Ltd.CGEN reported the FDA clearance of its investigational New Drug Application for COM701.