Market heads lower before big events
U.S. equity indexes are set to open lower today ahead of the European Union summit, the Supreme Court's ruling on Obamacare, and second-quarter GDP data.
S&P 500 futures are down 7 points, or 0.57 percent, to 1318.75 as of this writing. Nasdaq 100 contracts are lower by 12.25 points to 2545.75.
European indexes are down as well, led by a 1.09 percent loss in the German DAX and a 0.85 percent retreat in the U.K. FTSE 100. Asian indexes were mixed, with Japan's Nikkei 225 up 1.65 percent and Hong Kong's Hang Seng off 0.79 percent.
Currency markets are reflecting the equity weakness, as the euro is down by 0.23 percent to 1.244 against the dollar. Strength in the greenback has often been an indication of lower stocks in recent months.
Copper is down 0.34 percent to 3.345 after trading as high as 3.3675 in early morning trading. Spot gold futures are also lower at 1369.30, down 0.58 percent, or 9.10 points. Silver futures are off 0.44 percent to 26.87.
Crude oil futures are up 0.15 points, or 0.14 percent, to 80.33 after trading as high as 80.70 earlier today.
In stock-specific news, shares of News Corp. are higher after its board approved a plan to split the company into media and publishing divisions.
Shares of JP Morgan are down some 3.5 percent in pre-market trading on reports that its derivative losses may reach $9 billion. Bank of America is trading lower as well ahead of the EU summit.
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