News Summary for July 7, 2011

This is your Benzinga news summary and traders' outlook for Thursday, July 7, 2011, covering headlines from overnight and Thursday's pre-market session. Today in domestic pre-market trading, U.S. equity futures and the U.S. dollar are trading slightly higher as traders wait for employment data later this morning. Overseas, European markets moved lower on the session as traders awaited the ECB's rate decision. Britain's FTSE 100 and France's CAC 40 fell over 0.5% on the session. Asian stocks were mixed. Japan's Nikkei 225 rose over 1%, while Hong Kong's Hang Seng Index fell about 1%. On the economic calendar today, ADP employment change for the period of June is set to be reported at 8:15 a.m. and jobless data is due at 8:30 a.m. EIA natural gas storage change and DOE energy inventories are to be reported at 10:30 a.m. and 11:00 a.m. respectively. Announced at 7:45 a.m., the European Central Bank raised interest rates to 1.5% from 1.25%, as expected. On the commodity front, gold and silver futures are flat in pre-market trading. Energy futures are trading slightly higher with crude oil and gasoline futures over 0.5% higher; however, natural gas futures are flat on the session. Finally, copper futures are trading 0.5% higher on the session. On the earnings front, International Speedway ISCA missed The Street's earnings estimates by $0.01 on revenues that were in-line. Helen of Troy HELE beat The Street's earnings and revenues estimate; earnings per share was $0.01 better than what analysts' were expecting. In corporate news, Limited Brands LTD reported a 12% increase in June same-store sales. Cato CATO announced a 1% same-store sales increase for the period of June. Costco COST announced a 14% increase in June same-store sales. Later this morning, NYSE Euronext shareholders are to meet and will vote on the merger with Deutsche Boerse. Finally, Bebe Stores BEBE announced a 7% increase in comparable store sales for the fiscal fourth quarter. The company also reported fourth quarter sales of $122.4 million versus The Street's estimate of $123.24 million. This concludes your news summary for July 7, 2011.