Stock Futures Down after Thursday’s Rebound
Stock index futures are down in trading today following a rebound in the equity market on Thursday. On Thursday, all three major indexes ended higher, with the S&P 500 and the Dow Jones ending a six-day long losing streak. Futures are falling in trading today on concerns over a slowdown in the U.S. economy.
At last check, the Dow Jones Industrial Average futures were trading 24 points lower at 12,020, the S&P 500 futures were trading 3 points lower at 1,280, and the Nasdaq 100 futures were trading 5 points lower.
Lululemon Athletica Inc. (NASDAQ: LULU) shares are expected to remain in focus in trading today after the company reported better than expected first-quarter earnings. The stock rose more than 5% in pre-market trading.
The Goodyear Tire & Rubber Company (NYSE: GT) shares are also expected to remain in focus in trading today after the company reached an agreement to sell its global wire business to Hyosung, a South Korean company. Goodyear shares were almost 2% in pre-market trading today.
Google Inc. (NASDAQ: GOOG) shares are marginally lower in pre-market trading today after the New York Times reported that the company is in discussions to acquire display advertising company Admeld for $400 million.
On the economic front, the Bureau of Labor Statistics reported that import and export prices climbed 0.2% in the month of May. Excluding fuel, import prices climbed 0.4% in the month of May.
In the commodities market, crude oil is down in trading today after two days of gains. At last check, crude oil for delivery in July was trading $1.04 lower at $100.89 a barrel.
In Europe, stocks are mixed in intra-day trading, with the FTSE 100 Index in U.K. currently down 0.1%, while the DAX Index in Germany currently up 0.1%. In Japan, the Nikkei 225 Index rose 0.5% overnight.
