Market Overview

A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average jumped 51 points to 12,439.00 and S&P 500 index futures rose 6.20 points to 1,294.40. Nasdaq 100 futures surged 11 points to 2,378.00.

A Peek Into Global Markets European markets were higher today. The STOXX Europe 600 Index rose 0.84%, London's FTSE 100 Index moved up 0.38%, French CAC 40 index rose 1.29% and German DAX 30 index surged 1.48%.

Asian markets ended lower, with Japan's Nikkei Stock Average dropping 0.7373%, China's Shanghai Composite declining 0.47% and Australia's S&P/ASX 200 moving down 0.11%. Hong Kong's Hang Seng Index fell 0.2953% and India's Sensex dipped 0.86%.

Broker Recommendation Analysts at Jefferies & Company downgraded ConocoPhillips (NYSE: COP) from “buy” to “hold.” The target price for ConocoPhillips has been lowered from $85 to $75.

ConocoPhillips shares fell 0.51% to $71.64 in after-hours trading.

Breaking news

  • Openwave Systems Inc (NASDAQ: OPWV) announced today that its Board of Directors has determined to pursue strategic alternatives for the company's mediation and messaging products business. To read the full news, click here.
  • Crown Castle International Corp (NYSE: CCI) announced today that it has entered into a definitive agreement to acquire from Wireless Capital Partners, LLC a portfolio of ground lease related assets for approximately $180 million in cash and the assumption of approximately $320 million of debt. To read the full news, click here.
  • Cabot Oil & Gas Corporation (NYSE: COG) today announced that in the fourth quarter of 2011 the Company realized over $3.90 per Mcf for its Marcellus gas in Northeast Pennsylvania.To read the full news, click here.
  • Williams-Sonoma Inc (NYSE: WSM) lowered its Q4 earnings forecast. To read the full news, click here.

Posted-In: Jefferies & Company US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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