US Stock Futures Mixed as Home Prices Miss Expectations; Nasdaq Slightly Higher

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U.S. stock futures were mixed Tuesday, with the Dow Jones Industrial Average and the S&P 500 pointing lower while Nasdaq was slightly in the black as home price data missed views and ahead of consumer confidence data later this morning.

In the U.S., the FHFA home price index for April was unchanged from March compared to the 0.5% expected, according to data compiled by Econoday. In March the index rose 0.7% from February. The S&P/Case-Shiller home price index rose 0.2%, below the expected 0.8% increase.

At 10:00 a.m., new home sales in May are expected to have reached 441,000, up 1.8% from April when it had added 6.4%. Meanwhile, the conference board's consumer confidence index is expected to have gained to 83.7 in June from 83.0 in May.


In equities, Vertex Pharmaceuticals ( VRTX ) traded at an all-time high of $100.52 before the market opened, up 51%, after saying two phase 3 studies on its Cystic Fibrosis drug Lumacaftor met the primary endpoint of statistically significant improvement in lung function. Retail drug store chain Walgreen ( WAG ) was lower 1.7% after reporting lower-than-expected fiscal Q3 earnings. Also lower was Rio Tinto ( RIO ), by 1.6%, as Mongolian tax authorities seek $130 million in unpaid taxes and penalties on its $6.2 billion Oyu Tolgoi copper and gold mine.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.08%

-S&P 500 futures down 0.13%

-Nasdaq 100 futures up 0.04%

-Nasdaq-100 Pre-Market Indicator up 0.20%

GLOBAL SENTIMENT

Nikkei up 0.05%

Hang Seng up 0.33%

Shanghai Composite up 0.50%

FTSE-100 down 0.17%

DAX-30 up 0.08%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(-) Chip stocks: unchanged to lower

(+/-) Software stocks: mixed

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: unchanged

(-) Airlines: unchanged to lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) MU (+0.9%) Reports better-than-expected Q3 results

(+) XGTI (+68.1%) Wins subcontractor position on $497 million contract from US Army

(+) LIVE (+4.8%) Mobile platform created more than 10,000 offers

(+) ISIS (+1.5%) Earns $1 million milestone payment from GSK

(+) BBY (+0.8%) Morgan Stanley initiates with buy rating; PT at $36

DOWNSIDE MOVERS

(-) OHRP (-9.7%) Misses primary endpoint of Squalamine eye drops phase 2 trial

(-) CLWT (-12.0%) China may take longer to review its 300 Cubic Meters per hour BWTS certification

(-) LORL (-5.3%) Declines $7 billion deal to sell co, Telesat

(-) PRKR (-3.8%) Extends losses after court rules against it in Qualcomm patent case

(-) KNOP (-7.5%) Buys shuttle tankers, plans sale of 4.6 million equity units at $28.43 each

(-) SYT (-2.3%) Co reportedly ends talks to be bought by MON



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: VRTX , WAG , RIO

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