Market Overview

US Stock Futures Mostly Lower Ahead Of Goldman Sachs Earnings

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Pre-open movers

US stock futures traded mostly lower in early pre-market trade, ahead of jobless claims data and earnings from Goldman Sachs (NYSE: GS). Data on weekly jobless claims will be released at 8:30 a.m. ET, while the general business conditions index of the Philadelphia Fed survey for October will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 35 points to 15,214.00, while the Standard & Poor's 500 index futures fell 1.90 points to 1,711.30. Futures for the Nasdaq 100 index gained 0.25 points to 3,264.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.19%, London's FTSE 100 index dropping 0.10% and STOXX Europe 600 Index declining 0.08%. German DAX 30 index fell 0.48% and French CAC 40 Index declined 0.32%. UK's retail sales rose 1.5% in the third quarter grew 1.5% versus the second quarter.

Asian markets ended mixed today. Japan's Nikkei Stock Average gained 0.83%, China's Shanghai Composite fell 0.21% and Hong Kong's Hang Seng Index declined 0.57%. Australia's ASX/S&P500 surged 0.33% and India's Sensex fell 0.64%. China's foreign direct investment rose 4.9% y/y to $8.8 billion in September.

Broker Recommendation

Analysts at Barclays downgraded Stanley Black & Decker (NYSE: SWK) from “equal-weight” to “underweight.” The target price for Stanley Black & Decker has been lowered from $87 to $73.

Stanley Black & Decker's shares closed at $76.75 yesterday.

Breaking news

  • Avnet Embedded, a division of Avnet Electronics Marketing Americas, a business region of Avnet (NYSE: AVT), has entered a distribution agreement with Swissbit, a global leader in the design, development, and manufacture of DRAM and Flash memory products. To read the full news, click here.
  • Andatee China Marine Fuel Services (NASDAQ: AMCF) today announced that on October 15, 2013, NASDAQ notified the Company that it had regained compliance Rule 5550(a)(2), which requires a minimum bid price of $1.00 for continued listing on the NASDAQ Stock Market and that the matter was now closed. To read the full news, click here.
  • UnitedHealth Group (NYSE: UNH) reported a 0.8% rise in its third-quarter earnings. UnitedHealth's quarterly profit rose to $1.57 billion, or $1.53 per share, from $1.56 billion, or $1.50 per share, in the year-ago period. To read the full news, click here.
  • Danaher (NYSE: DHR) reported an 8.8% rise in its third-quarter earnings. Danaher's quarterly profit surged to $597 million, or $0.84 per share, from $548.7 million, or $0.77 per share, in the year-ago period. To read the full news, click here.

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

 

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