Market Overview

US Stock Futures Up Ahead Of Consumer Sentiment Data

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Pre-open movers

US stock futures gained in early pre-market trade, after a strong decline in the prior-day session. Data on housing starts for July and nonfarm business productivity for the second quarter will be released at 8:30 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for August will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 18 points to 15,088.00, while the Standard & Poor's 500 index futures rose 4.10 points to 1,659.80. Futures for the Nasdaq 100 index gained 7 points to 3,078.00.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.34%, London's FTSE 100 index dropping 0.04% and STOXX Europe 600 Index declining 0.12%. German DAX 30 index fell 0.17% and French CAC 40 Index gained 0.04%. The euro-zone current account surplus fell to 16.9 billion euros ($22.45 billion), versus a downwardly revised surplus of EUR19.5 billion in May. The euro-zone exports increased 3.0% in June from May, while imports rose 2.5%.

Asian markets ended lower today. China's Shanghai Composite declined 0.64%, while Japan's Nikkei Stock Average tumbled 0.75%. Australia's ASX/S&P500 dropped 0.71% and Hong Kong's Hang Seng Index fell 0.10% and India's Sensex tumbled 3.97%.

Broker Recommendation

Analysts at Sterne Agee downgraded Nordstrom (NYSE: JWN) from “buy” to “neutral.” The target price for Nordstrom has been lowered from $70 to $62.

Nordstrom's shares closed at $59.33 yesterday.

Breaking news

  • National Technical Systems (NASDAQ: NTSC) announced today that the Company has entered into an Agreement and Plan of Merger to be acquired by an affiliate of Aurora Capital Group, a Los Angeles-based private equity firm, that will result in NTS becoming a privately held company when the merger is completed. To read the full news, click here.
  • As part of Samson's broader financing plan to ensure its participation in the full development of the North Stockyard project, Samson Oil & Gas (NYSE: SSN) has today agreed to divest half of its equity position in the undeveloped acreage in the North Stockyard project to Slawson Exploration Company, Inc. (SECI) and a third party for $5.562 million in cash and other consideration. To read the full news, click here.
  • Stereotaxis (NASDAQ: STXS) today announced that it received a positive determination from the NASDAQ Listing Qualifications Panel on August 15, 2013 granting approval of the Company's request to transfer its listing to The NASDAQ Capital Market® from The NASDAQ Global Market®. To read the full news, click here.
  • eHealth (NASDAQ: EHTH) today announced that it has entered into an agreement with the Centers for Medicare and Medicaid Services (CMS) that relates to its ability to enroll individuals into qualified health plans (QHPs) through the Federally-Facilitated Health Insurance Exchange. To read the full news, click here.

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

 

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