US Stock Futures Up Ahead Of Retail Sales Data
US stock futures surged in early pre-market trade, ahead of retail sales data. Retail sales data for July will be released at 8:30 a.m. ET, while data on business inventories will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average jumped 58 points to 15,445.00, while the Standard & Poor's 500 index futures gained 5.40 points to 1,692.50. Futures for the Nasdaq 100 index rose 10.75 points to 3,134.75.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.38%, London's FTSE 100 index surging 0.59% and STOXX Europe 600 Index rising 0.38%. German DAX 30 index gained 0.78% and French CAC 40 Index rose 0.33%. Industrial output in the euro-zone rose 0.7% in June from May, and gained 0.3% y/y. The annual rate of inflation in the UK declined to 2.8% in July, versus 2.9% in June. The Royal Institute of Chartered Surveyors said its house prices balance in the UK surged to +36 in July, versus +21 in June. The ZEW German economic sentiment indicator rose 5.7 points in August, versus economists' expectations for a 39.1 reading.
Asian markets ended higher today. Japan's core machinery orders dropped 2.7% in June, versus economists' expectations for a 7.1% decline. Australian business sentiment declined to -3 in July, from a reading of 0 in June. China's Shanghai Composite gained 0.23%, while Japan's Nikkei Stock Average jumped 2.57%. Australia's ASX/S&P500 gained 0.94%, India's Sensex surged 1.49% and Hong Kong's Heng Seng Index jumped 1.21%.
Analysts at Sterne Agee upgraded Rockwell Collins (NYSE: COL) from “neutral” to “buy.” The target price for Rockwell Collins is set to $88.
Rockwell Collins shares closed at $73.33 yesterday.
- J. C. Penney Company (NYSE: JCP) today announced a series of actions related to its Board of Directors. First, William A. Ackman of Pershing Square Capital Management has resigned from the Board effective Aug. 12, 2013. To read the full news, click here.
- Whirlpool (NYSE: WHR) today announced that it has entered into agreements to become a majority shareholder (51 percent) in Hefei Rongshida Sanyo Electric Co, a leading home appliances manufacturer based in Hefei, China. To read the full news, click here.
- Flowers Foods (NYSE: FLO) reported a 64% rise in its second-quarter earnings. Flowers Foods projects full-year adjusted earnings of $0.92 to $0.98 per share on revenue of $3.79 billion to $3.82 million. However, analysts expected earnings of $0.97 per share on revenue of $3.7 billion. To read the full news, click here.
- CombiMatrix (NASDAQ: CBMX) and Manhattan Labs jointly announced today that they have entered into a strategic partnership under which Manhattan Labs will market and distribute CombiMatrix microarray tests for the miscarriage management testing market in the New York City metropolitan area. To read the full news, click here.
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