U.S. Futures Follow European, Asian Markets Down From Record Highs Amid Lack of Catalysts

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U.S. stock futures followed European and Asian markets lower Monday, after hitting records before the Independence Day holiday and with no major economic indicators on tap to drive trading.

The week will bring the Labor Department's Job Openings and Labor Turnover Survey for May on Tuesday, minutes from the last Federal Open Market Committee on Wednesday and wholesale inventories on Thursday.

In equities, BioDelivery Sciences ( BDSI ) shares were up about 14% in recent pre-market trading after the company said a phase 3 trial of it and Endo International's ( ENDP ) BEMA buprenorphine pain-management treatment met its primary efficacy endpoint. BioDelivery Sciences also said locking of the database for the opioid-experienced study triggered a $10 million milestone payment from Endo under the licensing agreement. ENDP was inactive in recent pre-market trade.

Expedia ( EXPE ) edged up 0.5% pre-market after agreeing to buy Australian online-travel company wotif.com for $658 million. Archer-Daniels-Midland ( ADM ) edged lower, having reached a six-year high Thursday, after confirming it has agreed to buy WILD Flavors GmbH, for EUR 2.3 billion ($3.13 billion.).

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.24%

-S&P 500 futures down 0.27%

-Nasdaq 100 futures down 0.26%

-Nasdaq-100 Pre-Market Indicator down 0.08%

GLOBAL SENTIMENT

Nikkei down 0.37%

Hang Seng down 0.02%

Shanghai Composite down 0.11%

FTSE-100 down 0.50%

DAX-30 down 0.55%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: unchanged to lower

(-) Chip stocks: unchanged to lower

(-) Software stocks: unchanged to lower

(-) Hardware stocks: lower

(-) Internet stocks: lower

(+/-) Drug stocks: mixed

(-) Financial stocks: unchanged to lower

(+/-) Retail stocks: mixed

(-) Industrial stocks: unchanged to lower

(+/-) Airlines: mixed

(-) Autos: unchanged to lower

UPSIDE MOVERS

(+) CAMT (+9.1%) Gets semiconductor orders from device makers

(+) MNGA (+7.7%) Fills EPA requirements for manure processing

(+) SPPI (+3.9%) Gets accelerated FDA Ok for T-Cell Lymphoma treatment

(+) BBBY (+0.6%) Announces $2 billion share buyback program

(+) AMAT (+2.8%) JPMorgan upgrades stock to overweight vs neutral

(+) CASI (+%) Gets FDA orphan drug designation for cancer drug

(+) CSIQ (+3.7%) FBR upgrades stock to outperform vs market perform

(+) SIMO (+8.2%) Raises Q2 earnings, margin guidance

(+) PAL (+9.3%) Cuts senior secured term loan interest rate

(+) EVRY (+23.2%) Workers accept labor deal revisions; cuts operating costs

(+) APP (+6.9%) Extends gains after ousted CEO hands stake to Standard General

(+) COCO (+5.6%) Signs operating agreement with U.S. Department of Education

DOWNSIDE MOVERS

(-) JMI (-2.5%) Citigroup downgrades stock to sell vs neutral

(-) GTAT (-8.6%) CEO sells $1.1 million shares on July 1

(-) NQ (-3.3%) Extends losses after audit head quits



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: BDSI , ENDP , EXPE , ADM

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