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US Stock Futures Down; Nonfarm Payrolls Data In Focus

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UPDATE: J.P. Morgan Downgrades Modine Manufacturing Co. as Growth Opportunities May Take Longer Than Expected

US stock futures are lower this morning, as investors are awaiting nonfarm payrolls data. Futures for the Dow Jones Industrial Average dipped 103 points to 12,280.00 and S&P 500 index futures fell 15.50 points to 1,293.70. Nasdaq 100 futures dropped 24.75 points to 2,499.25.

US stocks closed lower on Thursday, with the Dow Jones Industrial Average dropping 0.21% to 12,393.45, the S&P 500 index declining 0.23% to 1,310.33 and the Nasdaq 100 index falling 0.35% to 2,827.34.

US payrolls figures for May will be released at 8:30 a.m. ET. Data on April personal income and consumer spending will also be released at 8:30 a.m. ET. The Institute for Supply Management's index will be released at 10 a.m. ET. Data on April construction spending will also be released today.

Charming Shoppes Inc (NASDAQ: CHRS) is expected to post its Q1 EPS at $0.18 on revenue of $493.88 million. Modine Manufacturing Company (NYSE: MOD) is projected to post its Q4 earnings at $0.23 per share on revenue of $406.38 million.

Graham Corp (NYSE: GHM) is estimated to post its Q4 earnings at $0.06 per share on revenue of $20.31 million.

US auto makers are scheduled to announce sales figures for May today.

OmniVision Technologies Inc (NASDAQ: OVTI) issued downbeat adjusted earnings forecast for the first quarter.

Vera Bradley Inc (NASDAQ: VRA) posted stronger-than-expected Q1 results.

European markets were lower today. The STOXX Europe 600 Index dropped 1.11%, French CAC 40 index fell 1.34%. London's FTSE 100 Index moved down 0.45% and German DAX 30 index declined 1.98%. The purchasing managers' index for Britain's manufacturing sector declined to a 3-year low in May.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average falling 1.20%, China's Shanghai Composite rising 0.05% and Australia's S&P/ASX 200 moving down 0.41%. Hong Kong's Hang Seng index fell 0.38% and India's Sensex declined 1.71%.

Nymex crude-oil futures declined $1.51 to $85.02 a barrel. However, gold futures dropped $10.30 to $1.552.30 an ounce.

The dollar index (DXY) rose 0.3% to 83.317. The euro declined 0.39% against the US dollar to trade at $1.2315.

The US dollar declined 0.25% versus the Japanese yen to trade at ¥78.12.

Posted-In: US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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