U.S. Market Futures Lower after U.K. Votes to Leave the EU
Fri Jun 24 2016
Lucy Harlow (153 articles)
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U.S. Market Futures Lower after U.K. Votes to Leave the EU

U.S. stock futures are lower in pre-market trading for Friday, June 24. The Dow Futures are down -494.00 points to 17421.0. The S&P 500 Futures are down -74.00 points to 2031.75. The Nasdaq Futures are lower at 4304.5 for a loss of -158.00. The Russell Futures are lower at 1113.1 for a loss of -56.70 points.

In overnight trading in the Eastern Hemisphere stocks are lower. China’s Shanghai Composite is down -37.67 points or -1.30 percent at 2854.29 . Japan’s Nikkei 225 is at 14952.02 for a loss of -1286.33 points or -7.92 percent. Hong Kong’s Hang Seng Index is down -609.21 points or -2.92 percent at 20259.13. In India, the S&P BSE Sensex is lower at 26397.71 for a loss of -604.51 points or -2.24 percent. In Europe, the FTSE 100 is lower at 6044.55 for a loss of -293.55 points or -4.63 percent. Germany’s DAX is lower at 9572.82 for a loss of -684.21 points or -6.67 percent. France’s CAC 40 is lower at 4112.93 for a loss of -352.97 points or -7.90 percent. The Stoxx Europe 600 is lower at 322.43 for a loss of -23.91 points or -6.90 percent.

Friday’s Factors and Events

Britain announced overnight that its citizens had voted to leave the European Union which has stocks in the U.S. and globally trading lower on Friday.

In the U.S. a few economic indicators are on the calendar for the day. Durable goods orders will be released at 8:30 AM EST. Consumer sentiment and the Baker-Hughes Rig Count will also be reported on Friday.

There are a few earnings reports scheduled for Friday. The Finish Line, Inc. will report earnings before the bell on Friday.

Stocks trading actively in the pre-market include Citigroup, Bank of America, Wells Fargo and Newmont Mining.

The focus of the day will be on the affects of Britain’s exit vote. Currencies are trading volatilely and investors are investing in U.S. Treasuries. The pound and euro are both down against the dollar with the pound at 1.3701 per dollar and the euro at 1.1059 per dollar. The 10-year Treasury bond yield is also lower at 1.52 percent as demand has increased.

Thursday’s Activity

In the U.S., the leading market indexes were higher on Thursday as votes seemed to be in favor of the U.K. remaining in the European Union. The Dow Jones Industrial Average closed at 18011.07 for a gain of 230.24 points or 1.29 percent. The S&P 500 closed at 2113.32 for a gain of 27.87 points or 1.34 percent. The Nasdaq Composite closed higher at 4910.04 for a gain of 76.72 points or 1.59 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 1172.22 for a gain of 23.25 points or 2.02 percent; the S&P 600 closing at 719.19 for a gain of 14.08 points or 2.00 percent; the S&P 400 Mid-Cap Index closing at 1517.51 for a gain of 26.30 points or 1.76 percent; the Russell 3000 closing at 1247.10 for a gain of 17.46 points or 1.42 percent; and the Dow Jones U.S. Select Dividend Index closing at 607.55 for a gain of 8.10 points or 1.35 percent.


Copyright (2016) © LiveIndex.org


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