U.S. Market Futures Lower with Economic Outlook Pressuring Stocks
Fri Jun 17 2016
Lucy Harlow (3656 articles)

U.S. Market Futures Lower with Economic Outlook Pressuring Stocks

U.S. stock futures are lower in pre-market trading for Friday, June 17. The Dow Futures are down -20 points at 17623.0. The S&P 500 Futures are down -4 points at 2066.5. The Nasdaq Futures are lower at 4412.5 for a loss of -4.25 points. The Russell Futures are showing a loss of -0.80 points at 1144.2.

In overnight trading in the Eastern Hemisphere stocks were mostly higher. China’s Shanghai Composite was higher at 2885.11 for a gain of 12.29 points or 0.43 percent. Japan’s Nikkei 225 was higher at 15599.66 for a gain of 165.52 points or 1.07 percent. Hong Kong’s Hang Seng Index was higher at 20169.98 for a gain of 131.56 points or 0.66 percent. India’s S&P BSE Sensex was higher at 26625.91 for a gain of 100.45 points or 0.38 percent and the NSE Nifty was higher at 8,170.20 for a gain of 29.45 points or 0.36 percent. In Europe, the FTSE 100 was higher at 6023.64 for a gain of 73.16 points or 1.23 percent. Germany’s DAX was higher at 9657.52 for a gain of 107.05 points or 1.12 percent. France’s CAC 40 was higher at 4196.12 for a gain of 43.11 points or 1.04 percent. The Stoxx Europe 600 was higher at 325.47 for a gain of 4.18 points or 1.30 percent.

Friday’s Factors and Events

The economic calendar is light on Friday. It includes Housing Starts and the Baker-Hughes Rig Count. Housing starts are expected to be slightly lower than the previous month with a consensus of 1.150 million. The Baker-Hughes Rig Count will affect oil supply which continues to remain at market highs.

Stocks trading actively in the pre-market include Newmont Mining, Nike, Valero Energy, Apple, Wal Mart, Whole Foods and Disney. On the earnings calendar for Friday is Sky Solar Holdings.

Stocks expected to trade actively on recent news and earnings include Elizabeth Arden, Revlon, MGM Resorts International, Smith & Wesson and Oracle.

U.S. market futures are pointing lower as a weaker outlook on the economy and the U.K.’s exit vote on June 23 are pressuring stocks.

Thursday’s Activity

On Thursday, stock trading in the U.S. was flat. For the day the Dow Jones Industrial Average closed at 17733.10 for a gain of 92.93 points or 0.53 percent. The S&P 500 was also higher, closing at 2077.99 for a gain of 6.49 points or 0.31 percent. The Nasdaq Composite closed higher at 4844.91 for a gain of 9.98 points or 0.21 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 1148.19 for a loss of -1.11 points or -0.10 percent; the Russell 1000 closing at 1150.18 for a gain of 3.05 points or 0.27 percent; the S&P 600 closing at 703.01 for a loss of -0.70 points or -0.10 percent; the S&P 400 Mid-Cap Index closing at 1478.81 for a loss of -1.16 points or -0.08 percent; S&P 100 closing at 919.54 for a gain of 3.81 points or 0.42 percent; the Russell 3000 closing at 1225.09 for a gain of 2.91 points or 0.24 percent; the Nasdaq 100 closing at 4424.23 for a gain of 14.72 points or 0.33 percent; and the Dow Jones U.S. Select Dividend Index closing at 595.98 for a gain of 1.95 points or 0.33 percent.

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