Market Overview

Financial Breakfast: Morning News Summary for June 4, 2012

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Monday, June 4, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade lower about 5 points.
  • U.S. Dollar trades about 0.14% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 closed, Germany's DAX declined 0.75% and France's CAC 40 added 0.71% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai slid 2.69%, Japan's Nikkei 225 declined 1.71%, and Hong Kong's Hang Seng fell 2.01%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Piper Jaffray Upgrades Inphi Corporation (NASDAQ: IPHI) from Neutral to Overweight, Maintains $12 PT
  • Societe Generale Upgrades Pioneer Natural Resources (NYSE: PNR) from Sell to Hold, Maintains $92 PT
To see more of today's upgrades, click here.

  • Citigroup Downgrades Charles Schwab (NASDAQ: SCHW) from Buy to Neutral, PT Lowered from $20 to $13
  • Citigroup Downgrades TD Ameritrade (NASDAQ: AMTD) from Buy to Neutral, PT Lowered from $22 to $18
To see more of today's downgrades, click here.

On the Economic Calendar

  • 09:45 a.m. ET - New York NAPM
  • 10:00 - CB Employment Trends Index
  • 10:00 - Factory Orders (MoM)
  • 11:30 - 6-Month Bill Auction
  • 11:30 - 3-Month Bill Auction
To see more economic news, click here

Earnings

  • Conn's (NASDAQ: CONN) Reports Q1 EPS $0.35 vs $0.33 Est; Revs $200.9M vs $202.1M Est; Raises FY2013 EPS View
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.10%
  • Energy futures are trading lower, with crude oil posting early losses of about 1.2%
  • Natural Gas futures are trading 2.32% higher and copper is trading lower by about 0.71%
To see more commodities news, click here.


Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini S&P 500 1315 1294 1284 1263 1252
Gold 1688 1657 1601 1571 1515
Crude 88.28 85.77 84.03 81.52 79.78
Natural Gas 2.41 2.37 2.34 2.30 2.27
EUR/USD 1.2563 1.2497 1.2392 1.2327 1.2222
US Dollar Index 84.06 83.48 83.09 82.51 82.12


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Posted-In: Bonds Earnings News Guidance Upgrades Downgrades Futures Commodities Technicals Forex Events Global Econ #s Economics Pre-Market Outlook Markets Analyst Ratings Trading Ideas General Best of Benzinga

 

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