Futures follow Europe markets lower

optionMONSTER

U.S. equity futures are lower ahead of some important economic data this morning.
 
The S&P 500 June futures are lower by 0.25 percent to 1409.25. Nasdaq futures are not faring much better, down 0.13 percent to 2773.50.
 
Traders are waiting on factory orders data before placing further bets. The release, scheduled for 10 a.m. ET, is expected to show a slight gain.
 
World stock markets are mixed, with European exchanges leading the downside. France's CAC 40 is down 0.53 percent, and Germany's DAX is off 0.22 percent.
 
One bright spot is Hong Kong's Hang Seng index, which closed 1.31 percent higher overnight. Tokyo's Nikkei 225 was down 0.59 percent.
 
A stronger dollar, which historically correlates to bearish sentiment on commodities, is driving that market lower this morning. As the euro trades 0.1 percent lower to 1.3324, crude oil is down 0.79 percent to 104.41. The spot gold price is down 0.2 percent to 1676.40.
 
In stock-specific news, shares of Apple are higher by $5 to $623.70 a day after one analyst predicted that it would surpass $1,000 per share this year.
 
Freeport-McMoRan is lower at the $38.80 level in pre-market trading as softness in the copper market weights on the miner's shares.
 
Large-cap banks are down in pre market trading as European stocks retreat from a large rally.

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