News Summary for June 27, 2011

This is your Benzinga news summary and traders' outlook for Monday, June 27, 2011, covering headlines from overnight and Monday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading slightly higher with the U.S. dollar trading slightly flat on the session after pulling back from its highest levels in over a month. Overseas, Greece will debate an austerity package today. Greek Prime Minister George Papandreou advised parliament not to block the €28 billion bailout package, as repercussions would be catastrophic. World equity markets remain mixed, with Japan's Nikkei Index a notable mover at over 1% lower. On the economic calendar today, personal income and spending, PCE deflator, and PCE core are set be reported at 8:30 a.m. ET. The Dallas Fed Manufacturing Index is due to be reported at 10:30 a.m. On the earnings front, sports apparel giant Nike NKE is set to report earnings after the close today. The Street is expecting earnings per share of $1.16 on $5.54 billion revenues. On the commodity front, gold futures, on the session, are trading flat; however, silver futures are down nearly one percent on the session. Earlier this morning, silver and gold both traded to the lowest level since early May, with gold futures breaking the $1500 per ounce level. Energy futures remain lower with crude oil futures' posting early losses of over 0.5%. Losses in the oil & gas sector are somewhat the result of a weekend report by the New York Times which claimed that natural gas and oil extraction from shale deposits may be far more difficult than previously estimated. In corporate news, Stanley Black & Decker SWK offers $1.2 billion for Swedish surveillance company Niscayah. Read more here. This concludes your news summary for June 27, 2011.