A Peek Into The Market At The Start Of The Trading Day

Pre-open After gaining in early morning, US stock futures faltered after the release of the disappointing private payrolls data. The payrolls data overshadowed the positive news from European Central Bank. A Peek Into Global Markets European markets are mixed. While the Stoxx Europe 600 fell 0.03%, FTSE 100 Index moved up 0.42% in the early afternoon trading. All major Asian bourses closed lower today, with Japan's Nikkei stock average losing 1.97%, Australia’s S&P/ASX 200 declining 1.05%, Hong Kong's Hang Seng falling 0.59% and the Shanghai Composite plunging 1.19%. Broker Recommendation Despite news of Sealy ZZ reporting its May quarter results marginally short of consensus expectations, Piper Jaffray reiterated its “overweight” rating on the company this morning. Piper Jaffray notes that "Sealy has done a good job of aligning the business with market dynamics and we continue to recommend the stock as a 12-month idea." To read the full story, click here. Breaking news

• Boeing BA said it will buy defense systems developer Argon STST in an all-cash tender offer and merger for $34.50 a share, or about $775 million, to expand its ability to address the cyber and intelligence markets. To read the full story, click here.
• Ford F to pay $3.8 billion in cash to the UAW Retiree Medical Benefits Trust by making scheduled debt payments due on Notes A and B held by the trust and paying the entire remaining balance of Note A ahead of schedule. To read the full story, click here.
• BTU International BTUI, a leading supplier of advanced thermal processing equipment to the alternative energy and electronics manufacturing markets, today announced that it received a $16 million order for solar cell processing equipment. Revenue recognition for this order is projected to start in the fourth quarter of 2010 and continue through the first half of 2011. To read the full story, click here.

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