Market Overview

US Stock Futures Rise Ahead Of Jobless Claims, GDP Data

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Pre-open movers

US stock futures gained in early pre-market trade, ahead of economic data. Data on GDP growth for the second quarter and weekly jobless claims will be released at 8:30 a.m. ET. The pending home sales index for August will be released at 10:00 a.m. ET, while the Kansas City Fed manufacturing index for September will be released at 11:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 17 points to 15,227.00, while the Standard & Poor's 500 index futures rose 2.10 points to 1,687.90. Futures for the Nasdaq 100 index gained 10.75 points to 3,210.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.45%, London's FTSE 100 index dropping 1.79% and STOXX Europe 600 Index declining 0.36%. German DAX 30 index fell 0.38% and French CAC 40 Index declined 0.57%.

Asian markets ended mixed today. Japan's Nikkei Stock Average surged 1.22%, China's Shanghai Composite declined 1.94% and Australia's ASX/S&P500 gained 0.34%. Hong Kong's Hang Seng index fell 0.36% and India's Sensex rose 0.19%.

Broker Recommendation

Analysts at BMO Capital downgraded Intrepid Potash (NYSE: IPI) from “market perform” to “underperform.” The target price for Intrepid Potash is set to $11.

Intrepid Potash's shares closed at $16.16 yesterday.

Breaking news

  • Compuware (NASDAQ: CPWR) today announced the pricing of its initial public offering of 6.4 million shares of its wholly-owned subsidiary Covisint Corporation's common stock at a price to the public of $10 per share. To read the full news, click here.
  • Exelixis (NASDAQ: EXEL) today announced that the enrollment target of 960 patients has been reached for COMET-1, the company's phase 3 pivotal trial of cabozantinib in patients with metastatic castration-resistant prostate cancer (mCRPC). To read the full news, click here.
  • Toyota (NYSE: TM) today announced that it will begin exporting U.S.-built* Corolla sedans to 18 countries in Latin America and the Caribbean in 2014. To read the full news, click here.
  • Rogers Communications (NYSE: RCI) and Sprint (NYSE: S) announced today that they have reached an agreement enabling Sprint to bring a comprehensive in-car infotainment and telematics solution to Canadians. To read the full news, click here.

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

 

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