Market Overview

A Peek Into The Market Before The Trading Starts

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Pre-open movers

US stock futures edged higher in early pre-market trade, ahead of nonfarm payrolls data. US jobs data for July will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 19 points to 15,569.00, while the Standard & Poor's 500 index futures rose 2.10 points to 1,702.30. Futures for the Nasdaq 100 index gained 7.75 points to 3,120.50.

A Peek Into Global Markets

European markets were slightly higher today, with the Spanish Ibex Index rising 0.08%, London's FTSE 100 index dropping 0.08% and STOXX Europe 600 Index surging 0.28%. German DAX 30 index gained 0.09% and French CAC 40 Index rose 0.17%. British construction PMI surged to 57.0 in July, versus 51.0 in June. UK house prices increased 0.8% in July versus June and rose 3.9% y/y, Nationwide Building Society reported.

Asian markets ended mostly higher. Japan revised their fiscal2013/2014 GDP view up to 2.8% from 2.5%. However, the country's private consumption is projected to grow 0.5% in fiscal 2014/15, down from 2.1%. China's Shanghai Composite surged 0.02%, while Japan's Nikkei Stock Average jumped 3.29%. Australia's ASX/S&P500 gained 1.02%, India's Sensex tumbled 0.79% and Hong Kong's Heng Seng Index rose 0.46%.

Broker Recommendation

Analysts at BMO Capital upgraded Barrick Gold (NYSE: ABX) from “underperform” to “market perform.” The target price for Barrick Gold has been raised from $17 to $18.

Barrick Gold's shares closed at $16.81 yesterday.

Breaking news

  • Alliant Energy (NYSE: LNT) reported better-than-expected second-quarter earnings. Alliant's quarterly net profit fell to $65.3 million, or $0.59 per share, from $65.9 million, or $0.60 per share, in the year-ago period. To read the full news, click here.
  • Hanwha SolarOne (NASDAQ: HSOL) today announced that DK KIM, Chief Strategy Officer and a board member of Hanwha SolarOne, will resign from his positions effective August 1 and join Hanwha Q CELLS, a sister company also owned by Hanwha Chemical and a part of the growing network of solar entities under the Hanwha Group. To read the full news, click here.
  • Alpha Natural Resources (NYSE: ANR) reported a wider second-quarter adjusted loss. Alpha Natural posted a quarterly net loss of $185.7 million, or $0.84 per share, versus a year-ago loss of $2.23 billion, or $10.14 per share. Excluding one-time items, its adjusted loss widened to $129.2 million, or $0.59 per share, versus a year-ago loss of $72.3 million, or $0.33 per share. To read the full news, click here.
  • Toyota Motor (NYSE: TM) reported a strong rise in its first-quarter net profit. Toyota's quarterly net profit surged to Y562.19 billion ($5.6 billion), from Y290.35 billion, in the year-ago quarter. However, analysts were expecting a profit of Y441.5 billion. To read the full news, click here.

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

 

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