Market Overview

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

Pre-open movers
US stock futures jumped up today, driven by impressive earnings reported by HSBC Holdings (NYSE: HBC). While futures on the Dow Jones Industrial Average climbed 126 points to 10,543, those on the S&P 500 added 15.40 points to 1,114. Meanwhile, Nasdaq 100 futures gained 21.25 points to 1884.

A Peek Into Global Markets
Positive sentiments ruled the European markets today, with banking group BNP Paribas (OTC: BNPQY) and HSBC Holdings driving the market. While STOXX Europe 600 Index has advanced 2.31%, London’s FTSE 100 Index moved up 2.32%.

Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 0.35%, Australia's S&P/ASX 200 moving up 1.04% and China's Shanghai Composite gaining 1.33%.

Broker Recommendation
Analysts at Jefferies & Co upgrade Boyd Gaming Corporation (NYSE: BYD) from "underperform" to "hold." The target price for BYD has been raised from $7 to $9.50.
BYD’s shares lost 0.94% to close at $8.46 on Friday.

Breaking news

  • New York city based Loews Corporation (NYSE: L) released financial results on Monday morning that beat Wall Street earnings estimates, while missing revenue expectations. To read the full news, click here.
  • Specialty vehicle manufacturer Oshkosh Corporation (NYSE: OSK) on Monday morning released financial results that easily beat Wall Street expectations. To read the full news, click here.
  • Doug Kass tweeted that he is going to short the S&P 500 ETF (NYSE: SPY) as a result of the futures gaining on the China PMI numbers. To read the full news, click here.
  • Hersh Cohen, the manager of Legg Mason ClearBridge Equity Income (SOPAX) who has been investing in dividend stocks for four decades, is finding some of the biggest bargains of his career. The unemployment rate fell to 9.5% as more workers left the labor force. To read the full news, click here.

Read more from Benzinga's Markets.

Posted-In: Analyst Color Earnings Long Ideas News Short Ideas Upgrades Futures Global

 

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