U.S. Market Futures Lower after Fed Lowers Economic Outlook
Thu Jun 16 2016
Lucy Harlow (153 articles)
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U.S. Market Futures Lower after Fed Lowers Economic Outlook

U.S. stock futures are lower in pre-market trading for Thursday, June 16. The Dow Futures are down -48.00 points at 17504.0. The S&P 500 Futures are down -6.25 points at 2057.25. The Nasdaq Futures are lower at 4389.5 for a loss of -16.00 points. The Russell Futures are showing a loss of -4.90 points at 1139.3.

In overnight trading in the Eastern Hemisphere stocks are lower. In China the Shanghai Composite is lower at 2872.82 for a loss of -14.39 points or -0.50 percent. Japan’s Nikkei 225 is lower at 15434.14 for a loss of -485.44 points or -3.05 percent. Hong Kong’s Hang Seng Index is lower at 20038.42 for a loss of -429.10 points or -2.10 percent. In India, the S&P BSE Sensex is lower at 26525.46 for a loss of -200.88 points or -0.75 percent and the NSE Nifty is lower at 8,140.75 for a loss of -65.85 points or -0.80 percent. In Europe, the FTSE 100 is lower at 5935.01 for a loss of -31.79 points or -0.53 percent. Germany’s DAX is lower at 9543.24 for a loss of -63.47 points or -0.66 percent. France’s CAC 40 is lower at 4151.78 for a loss of -19.80 points or -0.47 percent. The Stoxx Europe 600 is lower at 321.27 for a loss of -2.36 points or -0.73 percent.

Thursday’s Factors and Events

Futures are pointing lower for stocks on Thursday as stocks are lower in global market trading. A number of economic indicators are on the calendar for Thursday. The Consumer Price Index will be reported at 8:30 AM EST. Also on the calendar for Thursday are the following: Jobless Claims, Housing Market Index, the Fed Balance Sheet and Money Supply.

In pre-market trading the following stocks are trading actively: Newmont Mining Corp., Frontier Communications, Berkshire Hathaway, Perrigo Company PLC, Yahoo Inc., Pioneer Natural Resources, NVIDIA Corp. and Apple.

Earnings reports for the day include the following: Aero Grow International, Inc., Kroger Co., Poundland Group PLC, Determine, Inc., Finisar Corporation, Iteris, Inc., Oculus Innovative Sciences, Inc., Oracle Corporation and Smith & Wesson Holding Corporation.

Wednesday’s Activity

 The U.S. Federal Reserve kept interest rates unchanged on Wednesday and lowered their outlook for the U.S. economy in the near-term which appears to be weighing on stocks in the pre-market on Thursday. On Wednesday, the leading U.S. indexes were lower for the day. The Dow Jones Industrial Average closed at 17640.17 for a loss of -34.65 points or -0.20 percent. The S&P 500 was also down, closing at 2071.50 for a loss of -3.82 points or -0.18 percent. The Nasdaq Composite closed lower at 4834.93 for a loss of -8.62 points or -0.18 percent.

Source: DJIA, S&P 500 and Nasdaq Composite. Google Finance.

Other notable index closes in the U.S. included the small-cap Russell 2000, closing at 1149.30 for a gain of 1.48 points or 0.13 percent; the S&P 600 closing at 703.71 for a loss of -0.19 points or -0.03 percent; the S&P 400 Mid-Cap Index closing at 1479.97 for a gain of 2.54 points or 0.17 percent; the Russell 3000 closing at 1222.18 for a loss of -1.37 points or -0.11 percent; and the Dow Jones U.S. Select Dividend Index closing at 594.03 for a loss of -1.74 points or -0.29 percent.


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Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe