US pre-open: Stocks to start modestly lower

Date: Friday 08 Jun 2012

The main US equity indices are now being called to start the session modestly lower on follow-through selling from yesterday’s session and ahead of a several important economic reports expected out tomorrow in China.

Mc.Donalds has warned on second quarter earnings per share, sending its shares 3% lower.

Rockwell Automation has announced a $1bn share repurchase program.

Icahn is to increase its stake in Navistar to 12% from 10%.

Chesapeake Energy will sell its mid-stream assets in three transactions for over $4bn.

The US trade deficit decreased slightly in April, to -$50.5bn from -$52.6bn the month before (Consensus: -$49.5bn).

Sharp drop in crude futures

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