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For July 10, 2015, here's your top stock market news, including pre-market movers, stocks to watch, and more in the stock market today…
Stock Futures Today
Futures for the Dow Jones Industrial Average forecasted a 193-point gain from Thursday's close on the hopes that Greece and its creditors will reach a deal on the nation's debt. The Greek government has submitted a proposal that is largely in line with its creditors' demands.
On Thursday, the DJIA gained 33 points despite climbing as much as 250 points early in the trading day. The markets recovered from Wednesday's NYSE nearly four-hour blackout caused by a "technical issue."
Top News in the Stock Market Today
- The Stock Market Today: This morning, investors will pay attention to speeches by Federal Reserve Chairwoman Janet Yellen and Boston Federal Reserve Bank President Eric Rosengren. Meanwhile, the Greek government has sent a fresh round of reform proposals to its European creditors in the hopes of avoiding a default and receiving a parliamentary vote today. The nation has requested 53.5 billion euros ($59 billion) to assist in debt payments until 2018 and has proposed several tax reforms, including a boost on shipping taxes, as part of its new plan. Here's a look at what would happen if Greece exits the euro…
- Semiconductor Slump: On Thursday, research firm Gartner Inc. issued a report that global PC shipments have declined sharply to their lowest levels since 2013. The news weighed down shares of computer makers and semiconductor manufacturers. Shares of Intel Corp. (Nasdaq: INTC) slipped more than 1.9%, Micron Technology Inc. (Nasdaq: MU) fell 2.7%, while shares of Hewlett-Packard Co. (NYSE: HPQ) fell 0.2%.
- Oil Outlook: WTI crude futures for August were flat today at $52.80 per barrel. Meanwhile, Brent oil prices were up 0.3% to hit $58.78 per barrel. Oil prices have been subdued this week after a massive sell-off on concerns in Europe and Asia. However, our Global Energy Strategist Dr. Kent Moors explains that this week's market overreaction isn't going to affect oil demand — in fact, it has created a great energy buying opportunity…
Pre-Market Movers in the Stock Market Today: CUDA, GPS, QLGC
- Pre-Market Movers No. 1, CUDA: Shares of Barracuda Networks Inc. (Nasdaq: CUDA) cratered more than 15% after the bell Thursday despite reporting better than expected quarterly earnings. The data storage firm reported per-share earnings of $0.09, beating Street estimates of $0.08 per share. Meanwhile, networking and storage firm QLogic Corp. (Nasdaq: QLGC) fell more than 21% after the firm announced its fiscal first-quarter outlook was worse than Wall Street analysts expected.
- Pre-Market Movers No. 2, GPS: Shares of Gap Inc. (NYSE: GPS) slipped in pre-market hours after the retailer announced its same-store sales in June slipped by 1%. The news was far worse than Wall Street analysts expected at 0.5%. The company said that company sales for June 2015 hit $1.54 billion, unchanged from June 2014.
Stocks to Watch Today: AAPL, Z
- Stocks to Watch No. 1, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) hit a five-month low yesterday as the company continues to reel from a report that its Apple Watch sales have fallen 90% since the first week of its release. The company is also facing steep headwinds thanks to growing economic concerns in China, a primary market for its iPhone sales.
- Stocks to Watch No. 2, Z: Shares of real estate marketplace Zillow Group Inc. (NYSE: Z) saw shares fall more than 3.5% this morning on news that the company's CFO announced he will be leaving the company. The news comes at a difficult time for the company, which has seen its share fall almost 50% over the last year.
Today's U.S. Economic Calendar (all times EDT)
- Wholesale Trade at 10 a.m.
- Boston Federal Reserve Bank President Eric Rosengren speaks at 11:30 a.m.
- Federal Reserve Chairwoman Janet Yellen speaks at 12 p.m.
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