Market Overview

US Stock Futures Higher On Fiscal-Cliff Deal

US stock futures are higher this morning, after US lawmakers reached a deal to avoid the fiscal cliff. Futures for the Dow Jones Industrial Average jumped 170 points to 13,197.00 and S&P 500 index futures rose 22.40 points to 1,442.50. Nasdaq 100 futures climbed 44.00 points to 2699.25

US stocks closed higher on Monday, with the Dow Jones Industrial Average rising 1.28% to 13,104.14, the S&P 500 index gaining 1.69% to 1,426.19 and the Nasdaq 100 index surging 2% to 3,019.51.

The Markit PMI manufacturing index for December will be released at 8:58 a.m. ET. The ISM manufacturing index for December, construction spending data for November will be released at 10:00 a.m. ET.

National American University Holdings (NASDAQ: NAUH) is expected to post its FQ2 earnings at $0.09 per share on revenue of $34.72 million. Landec (NASDAQ: LNDC) is projected to post its Q2 earnings at $0.16 per share on revenue of $102.69 million.

The US Food and Drug Administration approved a Johnson & Johnson (NYSE: JNJ) tuberculosis drug Sirturo.

Middleby (NASDAQ: MIDD) bought Viking Range for $380 million in cash.

The US Food and Drug Administration approved Salix Pharmaceuticals Ltd's (NASDAQ: SLXP) anti-diarrheal drug for HIV/AIDS patients.

European markets were higher today. The STOXX Europe 600 Index rose 1.49%, London's FTSE 100 Index gained 1.58%, German DAX 30 Index surged 2.03% and French CAC 40 Index rose 1.89%.

Asian markets ended higher, with Australia's S&P/ASX 200 Index gaining 1.25%. Hong Kong's Hang Seng Index gained 2.89% and India's Sensex rose 0.68%.

Crude oil for February delivery gained $0.94 to trade at $92.76 a barrel. Gold for February delivery gained $7.60 to $1,683.40 an ounce.

The ICE dollar index (DXY) dropped 0.40% to trade at 79.44, down from 79.792 late Monday.

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

 

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