Market Overview

US Stock Futures Edge Lower Ahead Of GDP, Jobless Claims Data

US Stock Futures Edge Lower Ahead Of GDP, Jobless Claims Data
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Pre-open movers

US stock futures fell in early pre-market trade, ahead of economic data. Data on Q3 GDP and weekly jobless claims will be released at 8:30 a.m. ET. Data on consumer credit for September will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 15 points to 15,668.00, while the Standard & Poor's 500 index futures fell 2.90 points to 1,762.70. Futures for the Nasdaq 100 index dropped 5.75 points to 3,370.25.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.22%, London's FTSE 100 index dropping 0.18% and STOXX Europe 600 Index declining 0.04%. German DAX 30 index rose 0.08% and French CAC 40 Index declined 0.10%. Spain's industrial output rose 1.4% y/y in September.

Asian markets ended lower today. Japan's Nikkei Stock Average tumbled 0.76%, China's Shanghai Composite dropped 0.48% and Hong Kong's Hang Seng Index declined 0.68%. Australia's ASX/S&P500 fell 0.20% and India's BSE Sensex tumbled 0.35%. Australia's unemployment rate came in unchanged at 5.7% in October.

Broker Recommendation

Analysts at Brean Capital upgraded American Eagle Outfitters (NYSE: AEO) from “hold” to “buy.” The target price for American Eagle Outfitters is set to $20.

American Eagle's shares closed at $14.65 yesterday.

Breaking news

  • Social-networking company Twitter (NYSE: TWTR), famed for its 140-character messages, announced its $26 a share pricing late Wednesday. The IPO values the company, founded only in 2006, at roughly $14.4 billion. To read the full news, click here.
  • Toll Brothers (NYSE: TOL), announced today that it is commencing a public offering of 6,250,000 shares of its common stock, par value $0.01 per share. To read the full news, click here.
  • Coty (NYSE: COTY) has formed a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business as well as its business in 13 other African countries. To read the full news, click here.
  • Autodesk (NASDAQ: ADSK) today announced its intention to acquire Delcam (OTC: DLCAF), one of the world's leading suppliers of advanced software for the manufacturing industry. To read the full news, click here.

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


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