Market Overview

US Stock Futures Up Ahead Of Fed Minutes

US Stock Futures Up Ahead Of Fed Minutes
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Pre-open movers

US stock futures rose in early pre-market trade. The Federal Open Market Committee will release minutes of its latest meeting at 2:30 p.m. ET. President Barack Obama will nominate Janet Yellen as chairman of the Federal Reserve, according to a White House official. Futures for the Dow Jones Industrial Average surged 42 points to 14,756.00, while the Standard & Poor's 500 index futures rose 6.20 points to 1,656.30. Futures for the Nasdaq 100 index gained 10.50 points to 3,161.25.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 1.01%, London's FTSE 100 index dropping 0.07% and STOXX Europe 600 Index declining 0.11%. German DAX 30 index rose 0.18% and French CAC 40 Index surged 0.60%. German industrial output climbed 1.4% on the month in August, versus a 1.1% fall in July.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average rose 1.03%, China's Shanghai Composite surged 0.62% and Australia's ASX/S&P500 gained 0.07%. Hong Kong's Hang Seng Index fell 0.63% and India's Sensex surged 1.33%.

Broker Recommendation

Analysts at JP Morgan upgraded Owens Corning (NYSE: OC) from “neutral” to “overweight.” The target price for Owens Corning has been raised from $44 to $45.

Owens Corning's shares closed at $36.38 yesterday.

Breaking news

  • Wi-LAN (NASDAQ: WILN) today announced that BlackBerry (NASDAQ: BBRY) and WiLAN have reached an agreement to dismiss all pending patent litigations between the companies. To read the full news, click here.
  • Costco Wholesale (NASDAQ: COST) reported a 1% increase in its fiscal fourth-quarter profit. To read the full news, click here.
  • Apollo Hospitals Enterprise Ltd., one of the leading healthcare providers in Asia, and Medtronic (NYSE: MDT) today announced a collaboration to bring to market an innovative, affordable and portable hemodialysis system in India to help improve access to care for End Stage Renal Disease (ESRD) patients who need Renal Replacement Therapy (RRT). To read the full news, click here.
  • SFX Entertainment (NASDAQ: SFXE) announced the pricing of its initial public offering of 20 million shares of common stock at a price to the public of $13.00 per share. To read the full news, click here.

Posted-In: Federal Open Market Committee Janet YellenNews Eurozone Futures Global Pre-Market Outlook Markets


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