News Column

US stock futures head lower

June 27, 2014



NEW YORK (AP) — US stock futures dropped Friday, putting the stock market on track for a weekly loss. Stocks have pulled back from record levels this week amid some weak economic reports.

KEEPING SCORE: Dow Jones industrial average futures are down 32 points at 16,730 shortly before the opening. Standard & Poor's 500 index futures are down five points at 1,944, while Nasdaq 100 futures are down five points at 3,812.

FORECAST CUT: DuPont dropped $1.53, or 2.3 percent, $66.06 in premarket trading after the company cut its profit forecast because of weaker sales of corn seeds. The company said late Thursday that corn seed sales are down in the second quarter, and seed inventory write-downs were larger than it expected.

THE BUSINESS OF SPORT: Nike gained $2.04, or 2.7 percent, to $78.93 in premarket trading stock after reporting earnings late Thursday that exceeded the expectations of Wall Street analysts. The company is also currently getting prolonged and global exposure at the World Cup.

WORLD MARKETS: Asian indexes closed lower. In Europe, France's CAC 40 was flat at 4,441.54 in afternoon trading while Germany's DAX edged up 0.1 percent to 9,818.61. The FTSE 100 index of leading British companies rose 0.2 percent to 6,748.47.

BONDS AND TREASURIES: Bond prices rose, pushing Treasury yields lower. The yield on the 10-year note fell to 2.52 percent from 2.53 percent on Thursday. The price of oil rose 25 cents, or 0.2 percent, to $106.64 a barrel.


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Source: Associated Press


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