June 27 Premarket Briefing: 10 Things You Should Know

Here are 10 things you should know for Friday, June 27:

1. -- U.S. stock futures were pointing to a lower open on Friday, with all three of the major U.S. indices each slipping by 0.1%. The Dow and the S&P 500 are looking at a loss for the week. Asian markets closed lower but European markets were up, recouping some losses from earlier in the week. 

2. -- The economic calendar in the U.S. on Friday includes the final University of Michigan Sentiment Index for June at 9:55 a.m. EDT.

3. -- U.S. stocks on Thursday closed in the red after St. Louis Fed President James Bullard speculated of a Federal Reserve interest rate increase as early as March.

Speaking with reporters in New York, Bullard said, "Some of the things I'm saying today sound pretty optimistic about the economy, but we also have this negative first quarter, which was a vexing issue, and when I weighed those two I said, 'Well, maybe I'll just leave it at the end of the first quarter'."

The Dow Jones Industrial Average closed down 0.18% to 16,846.13. The S&P 500 fell 0.12% to 1,957.22. The Nasdaq fared better but closed down 0.02% to 4,379.05.

4. -- Michaels, the arts and crafts specialty retailer that was taken private in 2006, begins trading Friday under the ticker "MIK". The company priced 27.8 million shares at $17 a share on Thursday evening, raising $472 million, according to a source close to the offering. The price, which was at the low-end of the range given in the company's regulatory filing, values the company at roughly $3.45 billion.

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