Stocks Set for Mixed Open with G-7, North Korea in Focus

The U.S.-North Korea summit will take place Tuesday

Managing Editor
Jun 11, 2018 at 9:11 AM
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Futures on the Dow Jones Industrial Average (DJI) are slightly higher, while the Nasdaq-100 Index (NDX) is signaling a lower open, as investors prepare for tomorrow's U.S-North Korea summit in Singapore. Traders are also digesting the weekend's unusually contentious Group of Seven (G-7) meeting in Canada. After trade tensions erupted between President Donald Trump and Canadian Prime Minister Justin Trudeau, Trump reneged on his endorsement of the group's communique. 

Continue reading for more on today's market, including:

Dow Futures Chart June 11

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.01 million call contracts traded on Friday, compared to 606,198 put contracts. The single-session equity put/call ratio rose to 0.60, while the 21-day moving average remained at 0.58.
  2. Software firm Workday Inc (NASDAQ:WDAY) announced that it will buy cloud services concern Adaptive Insights for $1.55 billion, just ahead of a planned initial public offering (IPO) that valued Adaptive at around $600 million. WDAY stock is up 21% year-to-date, but the shares are off about 1% ahead of the bell.
  3. Match Group Inc (NASDAQ:MTCH) is up 4.6% in electronic trading after Jefferies upgraded the dating service stock to "buy" from "hold" and hiked its price target to $50 from $40. MTCH has been a long-term outperformer, gaining 137% over the past 12 months.
  4. Walt Disney Co (NYSE:DIS) late Friday announced the end-of-year departure of animation chief and Pixar co-founder John Lasseter, who has been on a six-month sabbatical following some behavioral "missteps." DIS shares are fractionally lower in pre-market trading, after notching a rare close above their 200-day moving average to end last week.
  5. Wall Street's schedule is light today, with no major economic reports due out and only Dave & Busters (PLAY) set to report earnings.

stock market news june 11

Upbeat Italian News Sends European Markets Higher

It was a mostly positive session for Asian stock markets, as traders looked past uncertainty on global trade and tense geopolitical conditions. Tech stocks were a major reason the region’s equity benchmarks were able to overcome the headwinds, and the financial sector was another bright spot. As such, Japan's Nikkei notched a 0.5% gain, and Hong Kong’s Hang Seng closed up 0.3%. South Korea’s Kospi had an even bigger day, adding 0.8%. The sole decliner was China’s Shanghai Composite, closing down 0.5%.

Stocks are also pacing for a winning day in Europe. Upbeat news out of Italy could have sparked the buying mentality, with reports indicating the country’s economic minister confirmed a commitment to the euro. Bank stocks throughout the eurozone are thus some of the best performers. Another name in focus is Germany-based Mercedes parent Daimler AG, with the shares down 2% after the company was accused of using improper technology to cheat emission standards. On the data front, investors digested a bigger-than-expected decline in factory output in the U.K. for April. Still, London’s FTSE 100 is up 0.7% at last check, while France’s CAC 40 and Germany’s DAX are both sporting 0.1% leads.

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