US Stock Futures Flat; ISM Report In Focus
US stock futures were mostly flat in early pre-market trade. The PMI manufacturing index will be released at 8:58 a.m. ET. The ISM manufacturing composite index and construction spending data will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 5 points to 16,071.00, while the Standard & Poor's 500 index futures fell 0.10 points to 1,804.00. Futures for the Nasdaq 100 index gained 6 points to 3,493.50.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index falling 0.88%, London's FTSE 100 index dropping 0.68% and STOXX Europe 600 Index declining 0.21%. German DAX 30 index rose 0.01% and French CAC 40 Index declined 0.35%. Spain's manufacturing PMI declined to 48.6 in November versus 50.9 in October, according to Markit. German machinery orders fell 10% y/y in October. UK manufacturing purchasing managers index surged to 58.4 in November.
Asian markets ended mixed today. Japan's Nikkei Stock Average dropped 0.04%, China's Shanghai Composite declined 0.59%, Hong Kong's Hang Seng Index surged 0.66% and India's BSE Sensex gained 0.51%.
Analysts at JP Morgan downgraded 3M Company (NYSE: MMM) from “equal-weight” to “underweight.” The target price for 3M Company has been lowered from $123 to $122.
3M shares closed at $133.51 on Friday.
- Akamai Technologies (NASDAQ: AKAM) and Prolexic Technologies announced today that the two companies have signed a definitive agreement for Akamai to acquire Prolexic, a provider of cloud-based security solutions for protecting data centers and enterprise IP applications from distributed denial of service (DDoS) attacks. To read the full news, click here.
- SodaStream International (NASDAQ: SODA) today announced the appointment of Scott Guthrie as Regional General Manager of the Americas. To read the full news, click here.
- JinkoSolar (NYSE: JKS) today announced that it has signed a strategic cooperation agreement with the local government of Lingwu City, Ningxia Hui Autonomous Region, to develop a 200 MW ground-mounted PV power plant. To read the full news, click here.
- Cheniere Energy (NYSE: LNG) announced today that one of its wholly owned subsidiaries, Cheniere Energy Partners LP Holdings LLC (NYSE: CQH) has commenced an initial public offering of 30,000,000 common shares representing limited liability company interests in Holdings pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission. To read the full news, click here.
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