Investing.com – U.S. stock futures pointed to a lower open on Wednesday, as weaker-than-expected employment data added to concerns over the pace of the U.S. economic recovery, while shares in Nokia plunged to a 13-year low ahead of the open.
Dow Jones Industrial Average futures indicated a decline of 0.4%, the S&P 500 futures shed 0.45%, while Nasdaq 100 futures pointed to a drop of 0.55%.
Stock index futures added to losses after data showed that U.S. non-farm private employment rose significantly less-than-expected in May, increasing by 38K. Analysts had expected an increase of 179K.
Meanwhile, Nokia saw shares plunge 9.8% in pre-market trade after it warned on Tuesday that second quarter revenue could fall short of previous estimates, due to declining prices and sales volumes.
The warning prompted Goldman Sachs to downgrade the company to ‘neutral’ from ‘buy’, as it increases the downside risks for the mobile phone giant.
Shares in Jos. A. Bank Clothiers tumbled 10% after it said first quarter revenue totaled USD193.3 million, falling short expectations for revenue of USD194.8 million.
On the upside, IT-service provider Telvent saw shares soar 14.9% after it agreed to be acquired by France’s Schneider Electric for nearly USD2 billion.
Clothing retailer Phillips-Van Heusen saw shares climb 2% after it swung to a first quarter profit of USD57.7 million, compared to a loss of USD27.6 million a year earlier. The company raised its full-year earnings forecast, topping market estimates.
Lions Gate Entertainment saw shares add 0.9% after the film producer swung to a fiscal fourth quarter profit, as results were boosted by international growth and customers ordering its television and movie titles through on-demand cable services.
Meanwhile, shares in search engine giant Yahoo could be active after a media report said that the company had reached an agreement with partner Alibaba Group to resolve the ownership of the Chinese company’s online payments unit, Alipay.
Other stocks in focus included mobile phone carriers Sprint Nextel and AT&T. On Tuesday, Sprint asked U.S. regulators to block AT&T’s proposed takeover of T-Mobile USA, saying the deal has "no public interest benefit" and would harm competition.
Across the Atlantic, European stock markets were broadly lower as uncertainty over Greek sovereign debt weighed on market sentiment. The EURO STOXX 50 slumped 0.3%, France’s CAC 40 dipped 0.15%, Germany's DAX declined 0.2%, while Britain's FTSE 100 fell 0.18%.
During the Asian trading session, Japan’s Nikkei 225 Index eased up 0.27%, as gains were capped by concerns over domestic political turmoil. Hong Kong’s Hang Seng Index shed 0.24% after a report showed that China’s purchasing managers index declined to a 10-month low in April.
Later in the day, the U.S. Institute of Supply Management was to publish data on manufacturing activity.
Dow Jones Industrial Average futures indicated a decline of 0.4%, the S&P 500 futures shed 0.45%, while Nasdaq 100 futures pointed to a drop of 0.55%.
Stock index futures added to losses after data showed that U.S. non-farm private employment rose significantly less-than-expected in May, increasing by 38K. Analysts had expected an increase of 179K.
Meanwhile, Nokia saw shares plunge 9.8% in pre-market trade after it warned on Tuesday that second quarter revenue could fall short of previous estimates, due to declining prices and sales volumes.
The warning prompted Goldman Sachs to downgrade the company to ‘neutral’ from ‘buy’, as it increases the downside risks for the mobile phone giant.
Shares in Jos. A. Bank Clothiers tumbled 10% after it said first quarter revenue totaled USD193.3 million, falling short expectations for revenue of USD194.8 million.
On the upside, IT-service provider Telvent saw shares soar 14.9% after it agreed to be acquired by France’s Schneider Electric for nearly USD2 billion.
Clothing retailer Phillips-Van Heusen saw shares climb 2% after it swung to a first quarter profit of USD57.7 million, compared to a loss of USD27.6 million a year earlier. The company raised its full-year earnings forecast, topping market estimates.
Lions Gate Entertainment saw shares add 0.9% after the film producer swung to a fiscal fourth quarter profit, as results were boosted by international growth and customers ordering its television and movie titles through on-demand cable services.
Meanwhile, shares in search engine giant Yahoo could be active after a media report said that the company had reached an agreement with partner Alibaba Group to resolve the ownership of the Chinese company’s online payments unit, Alipay.
Other stocks in focus included mobile phone carriers Sprint Nextel and AT&T. On Tuesday, Sprint asked U.S. regulators to block AT&T’s proposed takeover of T-Mobile USA, saying the deal has "no public interest benefit" and would harm competition.
Across the Atlantic, European stock markets were broadly lower as uncertainty over Greek sovereign debt weighed on market sentiment. The EURO STOXX 50 slumped 0.3%, France’s CAC 40 dipped 0.15%, Germany's DAX declined 0.2%, while Britain's FTSE 100 fell 0.18%.
During the Asian trading session, Japan’s Nikkei 225 Index eased up 0.27%, as gains were capped by concerns over domestic political turmoil. Hong Kong’s Hang Seng Index shed 0.24% after a report showed that China’s purchasing managers index declined to a 10-month low in April.
Later in the day, the U.S. Institute of Supply Management was to publish data on manufacturing activity.