U.S. stock futures pointed to a lower open on Wall Street Monday following losses across Europe and Asia and ahead of a busy week for corporate earnings.
The only economic indicator due for release today is the NAHB Housing Market Index due at 10:00 a.m. EST.
Ahead of the opening bell, Dow industrial average futures were trading down 76 points, or 0.61 percent, to 12,376. Nasdaq 100 futures stood at 2,339, down 16.50 points, or 0.70 percent. Standard and Poor's 500 futures were trading lower by 8.90 points, or 0.68 percent, to 1,306, today.
Hot Stocks of the Day: HAL, LNKD, HAS, IBM, GCI
Halliburton Co. (NYSE: HAL) said Monday that second quarter FY 2011 net income was $747 million, or $0.81 per share, compared with net income of $511 million, or $0.56 per share in the same quarter last year. Revenue for the quarter increased 11 percent to $5.9 billion, from $5.3 billion in the comparable quarter last year. HAL is trading higher by 1.71 percent to $53.99.
LinkedIn Corp. (NYSE: LNKD) has been downgraded by analysts at JPMorgan to Neutral from Overweight with an $85 price target. LNKD is trading lower 3.61 percent to $106 a share in pre-market trading.
Hasbro Inc. (NYSE: HAS) reported Friday that net income grew 33 percent to $58.1 million, or $0.42 per share, compared with $43.6 million, or $0.29 per share, in the same quarter last year. HAS is trading down 1.86 percent to $40.60 Friday.
International Business Machines Inc. (NYSE: IBM) is expected to report second quarter FY 2011 financial results later in the day. Analysts expect IBM to report earnings of $3.03 per share for the quarter. IBM is down 0.34 percent to $174.95 in pre-market trading.
Gannett Co. Inc. (NYSE: GCI) today reported net income of $151.5 million, down 22.5 percent from $195.5 million in the same quarter last year. Diluted earnings for the quarter were $0.58 per share, compared to $0.61 per diluted share in the second quarter FY 2010. GCI is trading higher by 3.12 percent to $13.90 a share.
Global Markets: FTSE, CAC40, DAX, Nikkei 225, Straits Times, Hang Seng, Shanghai Composite Index, BSE 30
Asian markets closed lower today. China's Shanghai Composite Index closed at 2,816.69, down 3.48 points, or 0.12 percent; Singapore's Strait Times closed lower by 5.29 points, or 0.17 percent, to close at 3,078.95; Hong Kong's Hang Seng closed down by 70.63 points, or 0.32 percent, to 21,804.75; India's BSE 30 closed lower by 54.88 points, or 0.30 percent, at 18,507.04. Japan's Nikkei 225 remained closed Monday.
The European indexes were trading lower mid-day Monday. Britain's FTSE 100 was trading lower at 5,776.95, down 66.71 points, or 1.14 percent; Germany's DAX was trading at 7,133.42, down 86.70 points, or 1.20 percent; and France's CAC40 was trading lower by 51.12 points, or 1.37 percent, to 3,675.47.
Oil drops amid debt crisis
Ahead of the opening bell, crude oil was trading lower by 0.63 points, or 0.65 percent, to $96.61 per barrel. Gold stood at 1,594.30, up 4.50 points, or 0.28 percent, on Friday.
In the currency market, the euro was trading lower by 0.80 percent to 1.4044 against the U.S. dollar and the British pound is trading down 0.39 percent to $1.6072 against the dollar. The dollar was trading lower at ¥79.0950, down 0.02 percent against JPY on Monday.
On Friday, Wall Street closed higher. The Dow Jones industrial average closed higher by 42.61 points, or 0.34 percent, to settle at 12,479.73, over Thursday's close. The Standard & Poor's 500 added 7.27 points, or 0.56 percent, to 1,316.14. The Nasdaq closed at 2,789.80, up 27.13 points, or 0.98 percent.