Market Overview

US Stock Futures Rise Ahead of Economic Data

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Pre-open movers

US stock futures gained mixed in early pre-market trade, ahead of economic data. The Empire State manufacturing index and import prices data will be released at 8:30 a.m. ET. Data on industrial production will be released at 9:15 a.m. ET, while wholesale inventories data will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 33 points to 15,872.00, while the Standard & Poor's 500 index futures rose 4.60 points to 1,792.30. Futures for the Nasdaq 100 index gained 9.75 points to 3,420.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.24%, London's FTSE 100 index gaining 0.45% and STOXX Europe 600 Index gaining 0.25%. German DAX 30 index rose 0.18% and French CAC 40 Index surged 0.21%.

Asian markets ended higher today. Japan's Nikkei Stock Average jumped 1.95%, China's Shanghai Composite gained 1.68% and Hong Kong's Hang Seng Index rose 1.69%.

Broker Recommendation

Analysts at Pareto Securities downgraded Transocean (NYSE: RIG) from “buy” to “hold.” The target price for Transocean has been raised from $55 to $60.

Transocean's shares closed at $54.67 yesterday.

Breaking news

  • Jos. A. Bank Clothiers (NASDAQ: JOSB) today sent a letter to the Chief Executive Officer of The Men's Wearhouse (NYSE: MW) terminating its all-cash proposal to purchase Men's Wearhouse for $48 per share. To read the full news, click here.
  • 8x8 (NASDAQ: EGHT) today announced the pricing of a public offering of 12,500,000 shares of its common stock at a price to the public of $9.25 per share. To read the full news, click here.
  • Vanda Pharmaceuticals (NASDAQ: VNDA) announced Thursday that the U.S. Food and Drug Administration's (FDA) Peripheral and Central Nervous System Drugs Advisory Committee (Advisory Committee) voted overwhelmingly to recommend the approval of Vanda's New Drug Application (NDA) for tasimelteon, proposed tradename HETLIOZ™, for the treatment of Non-24-Hour Disorder (Non-24) in the totally blind. To read the full news, click here.
  • ReneSola (NYSE: SOL) today announced its collaboration with Solar Side Up of Golden, Colorado in a series of projects totaling 44.5KW in solar PV arrays in the past two months. To read the full news, click here.

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

 

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