U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial futures down 59 points.
-S&P 500 futures down 5 points.
-Nasdaq 100 futures down 16 points.
-Nasdaq-100 Pre-Market Indicator Down 5.41 at 2,263.55
Nikkei up 0.5%.
Hang Seng down 0.8%.
Shanghai Composite up 0.1%.
FTSE-100 down 0.2%.
PRE-MARKET SECTOR WATCH
(-) Large cap tech: mostly lower
(+,-) Chip stocks: mixed
(-,+) Software stocks: mixed
(-,+) Internet stocks: mixed
(-,+) Drug stocks: mixed
(-) Financial stocks: flat to lower
(+,-) Retail stocks: mixed
(-,+) Industrial stocks: mixed
(-,+) Airlines: mixed
(-,+) Autos: mixed
(+) LULU (+5.6%) beats with earnings, guidance.
(+) NOK (+0.2%) subject of mixed news over chances of selling Siemens JV.
(+) MCP (+0.9%) pricing shares.
(+) VRGY (+10.6%) gets regulatory green light for Advantest buy.
(+) LYV (+9.2%) gains amid going-private talks.
(+) CHTP (+9.5%) reports positive Phase III Northera results.
(+) BCRX (+6.4%) up on positive swine flu treatment results.
(-) DCIX (-7%) prices shares.
(-) NSM (-0.04%) slips after evening earnings report.
Stock futures trading indicates a mildly lower start at today's
bell, meaning that Thursday's mild bounce from a six-session slide may
prove short-lived. China's trade data surprise, which did not argue
against more rate hikes there, has pressured global markets, including
Data show that China's trade surplus widened in May, with imports
growing faster than economists expected. The trade surplus for the month
totaled $13.05 billion, compared to April's $11.4 billion, the General
Administration of Customs reported. The result was well below the
average projection for an $18.6 billion surplus, according to a Dow
Jones Newswires survey. Analyst notes said the net result is a weaker
performance than expectations.
Expectations for higher rates in China persisted over recent
sessions. In Korea, officials raised interest rates by a quarter point
to 3.25%, in what observers said was an unexpected move.
U.S. import prices rose modestly, though unexpectedly by 0.2%, in
May, little sign of sharply accelerating inflation outside of certain
areas like commodities.
Also on the slate, William Dudley, president of the Federal Reserve
Bank of New York, is scheduled to speak about the economy at the
Brooklyn Chamber of Commerce, starting shortly before the U.S. stock
Crude oil for July delivery dropped $1.03 to $100.90 a barrel in
electronic trading on Globex. Precious metals futures prices were
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