Early indications point to a slow start to the trading day ahead of a report on Existing Home Sales Tuesday. Thirty minutes before the opening bell on Wall Street, stock index futures indicate that the Dow Jones Industrial Average and the NASDAQ will open little changed.
Stock index futures slipped along with European benchmarks after Fitch downgraded France’s BNP Paribas. UK’s FTSE lost 1.2 percent, France’s CAC 40 Index is off 1 percent, and Germany’s DAX is down .6 percent.
Stock benchmarks in Asia also gave back some of the gains inspired Monday when China removed its yuan-to-dollar currency peg. Hong Kong’s Hang Seng slipped .5 percent and Japan’s Nikkei lost 1.2 percent.
In the US, the focus shifts to a report on existing home sales at 10:00 a.m. eastern time. Economists expect the data to show an increase to an annualized rate of 6.1 million homes in May, up from 5.77 million the month before.
Bonds are up bid ahead of the report. The benchmark ten-year Treasury is up 9/32nd and now yields 3.21 percent.
The dollar is down .36 to 90.38 against the Japanese Yen. The euro edged down .0034 to 1.2285 against the buck.
Crude oil slipped .18 to $77.64 and gold lost $4.2 to $1263.50 an ounce.
Among the stocks to watch, Walgreen’s (WAG) is down nearly 4 percent after reporting a quarterly profit of 53 cents per share, which missed Street estimates by 4 cents. Jefferies (JEF) jumped 4.9 percent after reporting 41 cents per share for the quarter, which topped analyst estimates by four cents. Adobe (ADBE) might see action today ahead of the software maker’s earnings, due out after the closing bell.

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