Equity Futures Trading Modestly Lower
04-Mar-13 09:00 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -6.30. Equity futures are trading modestly lower amid mixed overseas trade. The S&P 500 futures are off by 0.2% after being down as much as 0.6% in overnight action. Much of the early weakness has been due to news out of China where officials announced new regulatory measures aimed at curbing rapidly rising home prices. China's Shanghai Composite responded to the developments by falling 3.7% with the Shanghai Property Index dropping nearly 10%.
In the U.S., pre-market trade is unfolding in rather quiet fashion amid limited corporate earnings. Stratasys (SSYS 68.55, +4.29) is rising 6.7% after beating on earnings and guiding its revenue midpoint above consensus. Peer 3D Systems (DDD 38.26, +1.56) trades higher by 4.3%.
Elsewhere, Gap (GPS 33.11, -0.76) is off by 2.2% after Sterne Agee initiated coverage with an ‘Underperform' rating.
There is no notable economic data scheduled to be released today.