Market Overview

US Stock Futures Up Ahead of Economic Data

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Pre-open movers

US stock futures surged in early pre-market trade, ahead of economic data. The Markit PMI manufacturing index (final) for September will be released at 8:58 a.m. ET. The ISM manufacturing composite index for September and construction spending data for August will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average surged 54 points to 15,100.00, while the Standard & Poor's 500 index futures rose 7.60 points to 1,681.90. Futures for the Nasdaq 100 index gained 13.75 points to 3,222.75.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.73%, London's FTSE 100 index dropping 0.23% and STOXX Europe 600 Index gaining 0.32%. German DAX 30 index rose 0.62% and French CAC 40 Index gained 0.71%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average rose 0.20%, Australia's ASX/S&P500 dropped 0.22% and India's Sensex surged 0.76%. China's official manufacturing PMI climbed rose to 51.1 in September, from 51.0 in August.

Broker Recommendation

Analysts at Canaccord Genuity upgraded Cree (NASDAQ: CREE) from “hold” to “buy.” The target price for Cree has been increased from $65 to $80.

Cree shares closed at $ 60.19 yesterday.

Breaking news

  • Accenture (NYSE: ACN) has completed its acquisition of PRION Group – a leading consulting and systems integrator that specializes in Siemens Product Lifecycle Management (PLM) Software. To read the full news, click here.
  • Magic Software Enterprises (NASDAQ: MGIC) announced today that it has accelerated its expansion into China with the appointment of United Electronics Co., Ltd. (UEC) as a Magic xpa and Magic xpi prime partner and reseller for Mainland China, Hong Kong, and Macau. To read the full news, click here.
  • Biogen Idec (NASDAQ: BIIB) announced new data analyses from year one of the two-year, pivotal, Phase 3 ADVANCE study of PLEGRIDYTM (peginterferon beta-1a). To read the full news, click here.
  • Wyndham Hotel Group, the world's largest hotel company with approximately 7,410 hotels and part of Wyndham Worldwide (NYSE: WYN), today announced the signing of 17 hotels representing over 2,300 rooms across Germany and Austria in association with Grand City Hotels.To read the full news, click here.

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

 

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