Market Overview

US Stock Futures Up Ahead Of Earnings

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Pre-open movers

US stock futures rose in early pre-market trade, ahead of earnings from major companies. Futures for the Dow Jones Industrial Average surged 18 points to 15,314.00, while the Standard & Poor's 500 index futures rose 1.70 points to 1,729.50. Futures for the Nasdaq 100 index gained 14 points to 3,315.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.38%, London's FTSE 100 index gaining 0.33% and STOXX Europe 600 Index rising 0.44%. German DAX 30 index rose 0.17% and French CAC 40 Index surged 0.49%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average declined 0.17%, China's Shanghai Composite rose 0.24% and Hong Kong's Hang Seng Index surged 1.06%. Australia's ASX/S&P500 surged 0.74% and India's Sensex jumped 2.29%. China's gross domestic product rose 7.8% in the third quarter, versus a 7.5% growth in the second quarter. The country's industrial output rose 10.2% in September from a 10.4% growth in August, while retail sales grew 13.3% versus a 13.4% growth increase in the earlier month.

Broker Recommendation

Analysts at Deutsche Bank upgraded Verizon Communications (NYSE: VZ) from “hold” to “buy.” The target price for Verizon Communications has been raised from $49 to $56.

Verizon's shares gained 1.02% to $49.40 in pre-market trading.

Breaking news

  • General Electric Co (NYSE: GE) reported an 8.6% drop in its third-quarter net profit. GE's quarterly profit declined to $3.2 billion, or $0.31 per share, down from $3.5 billion, or $0.33 per share, in the year-ago period. To read the full news, click here.
  • pSivida (NASDAQ: PSDV) today announced that its licensee Alimera Sciences, Inc. has received a Complete Response Letter (CRL) for the New Drug Application (NDA) for ILUVIEN® from the U.S. Food and Drug Administration (FDA). To read the full news, click here.
  • Schlumberger (NYSE: SLB) reported a 20% rise in its third-quarter profit. Schlumberger's quarterly profit surged to $1.72 billion, or $1.29 per share, from $1.42 billion, or $1.07 per share, in the year-ago period. To read the full news, click here.
  • Pier 1 Imports (NYSE: PIR) today announced its Board of Directors has authorized a new $200 million share repurchase program. To read the full news, click here.

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

 

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