Market Overview

US Stock Futures Up Ahead Of Economic Data

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US Stock Futures Up Ahead Of Economic Data
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Pre-open movers

US stock futures rose in early pre-market trade, ahead of economic data. Data on personal income and consumer spending for July will be released at 8:30 a.m. ET. The Chicago PMI for August will be released at 9:45 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 26 points to 14,860.00, while the Standard & Poor's 500 index futures rose 4 points to 1,640.70. Futures for the Nasdaq 100 index gained 8.50 points to 3,098.00.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.60%, London's FTSE 100 index falling 0.43% and STOXX Europe 600 Index declining 0.41%. German DAX 30 index fell 0.47% and French CAC 40 Index declined 0.46%. Italy's unemployment rate declined to 12.0% in July, from 12.1% in June. German retail sales fell 1.4% on the month in July.

Asian markets ended mostly higher today. Japan's core consumer price index increased 0.7% y/y in July, while the country's unemployment rate declined to 3.8% versus 3.9% in June. Japan's industrial production surged 3.2% in July. China's Shanghai Composite rose 0.06%, while Japan's Nikkei Stock Average dropped 0.53%. Australia's ASX/S&P500 gained 0.83%, Hong Kong's Hang Seng Index surged 0.12% and India's Sensex jumped 1.19%.

Broker Recommendation

Analysts at KeyBanc upgraded Select Comfort (NASDAQ: SCSS) from “hold” to “buy.” The target price for Select Comfort is set to $30.

Select Comfort's shares closed at $23.98 yesterday.

Breaking news

  • Big Lots (NYSE: BIG) reported upbeat fiscal second-quarter earnings and cut its full-year forecast. Big Lots posted its quarterly profit of $18.1 million, or $0.31 per share, versus a year-ago profit of $22.1 million, or $0.36 per share. To read the full news, click here.
  • Marketo (NASDAQ: MKTO) today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed public offering of 6,000,000 shares of its common stock. To read the full news, click here.
  • Nam Tai Electronics (NYSE: NTE) today announced that it has received another additional new purchase order from an existing customer to extend the production at the Company's Shenzhen facility of high-resolution liquid crystal display modules ("LCMs") for a smartphone. To read the full news, click here.
  • ReneSola (NYSE: SOL) reported a narrower second-quarter loss. ReneSola posted a quarterly net loss of $21.1 million, or $0.12 per American Depository Share (ADS), versus a year-ago loss of $34.8 million, or $0.40 per ADS. To read the full news, click here.

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

 

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