Stock futures slip as Iraq violence overshadows NY manufacturing data


Stock futures indicate a slightly weaker open as traders contend with al-Qaeda's assault on Baghdad and Russia cutting off gas supplies to Ukraine; S&P, Dow and Nasdaq all -0.2%.

Manufacturing activity in the New York region rose unexpectedly in June even after hitting a near four-year high in May

All of Europe's major bourses trade in the red; markets ended mixed across Asia, with the Nikkei (-1.1%) lost ground as the yen strengthened.

Stocks worth watching include Medtronic after its purchase if Ireland-based rival Covidien for $42.9B in a deal that could increase concerns about U.S. companies striking deals to cut their tax bills.

Treasurys trade mixed, with selling up front while buyers are in control at the long end; the two-year note +1.7 bps at 0.468% as the 10-year trades -1.2 bps at 2.592%.

Still ahead: NAHB housing index.

Comments (5)
  • Patent News
    , contributor
    Comments (1474) | Send Message
     
    lots of positive data still though, M&A, no grounds for concern once ISIS are blown out of the water soon.
    16 Jun 2014, 09:33 AM Reply Like
  • mrdirt
    , contributor
    Comments (762) | Send Message
     
    Empire Fed jumped to 19.28, notably better than the 15.00 expectation and reached highs not seen since June 2010. However,the number of employees index tumbles from 20.88 to 10.75 and worse still the forward-looking index dropped after 3 months of gains. However, the worst news, comes for those who continue to, incorrectly, predict a CapEx renaissance: The capital expenditures index fell for a second consecutive month, dropping to 11.8, and the lowest since February.

     

    http://bit.ly/SNqeGc
    16 Jun 2014, 09:42 AM Reply Like
  • Wilky
    , contributor
    Comments (112) | Send Message
     
    My God, how sick am I continually hearing about the bloody middle east and its bloody problems?
    Answer, sick to bloody death of it all. (Yes, my language correctly indentifies me as a Brit, but I have lived in the USA for 17 years and I am a naturalized US citizen)

     

    Most 'common sense' Americans could have predicted what is now happening in Iraq. I'm surprised it has taken so long. As soon as we leave Afghanistan the same kind of thing will happen with that country also.

     

    When will our stupid politicians realize that we cannot change what has been going on between the bloody stupid religious factions over there for 2000 years.
    If the Muslim world wants to change it's borders and have all the different factions living in definitive areas well fine, what the hell do we care. We just have to let them know, definitively, that we know where any terrorist attacks will originate (which we will) and that if anything bad happens on American soil or that of any of our true allies (mainly western Europe, certainly not Pakistan, Saudi Arabia et al) we will bomb the living daylights out of one or two of their largest cities.

     

    Having said that, once these religious/political factions all get together in their own areas, they will be so busy trying to bomb the crap out of each other, they probably will not have time to bother with the western world. Well, OK, let them get on with it, I really don't give a damn. Let's get all the different factions together so that WE know where they are.

     

    I realize that lots of "innocent people" (loose term) will be killed but it certainly will not be the fault of the West. We get blamed for everything that goes on there at the moment and when this kind of crap blows up, our stock market is inclined to go in the opposite direction, which really pisses me off.

     

    All the western countries have had their civil wars. Sometimes, that's just what it takes to settle things down. Let us allow the middle eastern countries to have theirs.

     

    I visited Arlington for the first time a couple of weeks ago when in DC. What a terrible waste of America's young men. I know that the two world wars had to be fought in order to preserve our way of life. Maybe we will have to fight another, I don't know. But we need to stop playing goodies and baddies with these people and let them know we don't have to send one American youth over there in order to make war upon them with missiles. Once they know that we are prepared to do that I think it will shut them up for a while.

     

    Russia and China must be laughing their asses off at us spreading our troops so thinly around the world and basically bankrupting ourselves in the process, while they make hay in the sunshine.

     

    Bring our troops home, guard our borders, step up intelligence and co-operation between agencies and sit back and see what happens.

     

    Could it possibly be any bloody worse than it is now?
    16 Jun 2014, 10:45 AM Reply Like
  • Sakelaris
    , contributor
    Comments (2602) | Send Message
     
    Yes, my friend, let me explain how it could get worse than it is now. In addition to the US (and your native Britain) squandering resources fighting in the Middle East, we could see the US and Britain escalate their recently resumed Cold War against Russia.

     

    For us to pick on Russia in defense of the badly-drawn Ukrainian borders right now is so foolish. This is a time in which the US, Britain, and Russia need to instead work together against the attacks from the Middle East by, as you stated, guarding borders and working on intelligence operations.
    16 Jun 2014, 11:49 AM Reply Like
  • Wilky
    , contributor
    Comments (112) | Send Message
     
    Well, I never suggested we should get entangled with Russia, we need to stop sticking our noses into situations which our presence cannot improve. Ukraine is such a place. I think we are all well aware that Russia has no interest in working with the western powers whilst Putin is calling the shots and supplying middle eastern countries with weapons. I don't really give a damn about cold wars, (I don't like this game I'm taking my ball home) it's actual wars where our young men are dying.
    17 Jun 2014, 08:55 AM Reply Like
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