Market Overview

US Stock Futures Drop Ahead Of Jobless Claims, Retail Sales Data

US Stock Futures Drop Ahead Of Jobless Claims, Retail Sales Data
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Pre-open movers

US stock futures fell in early pre-market trade, ahead of economic data. Data on weekly jobless claims, retail sales and import prices will be released at 8:30 a.m. ET. Data on business inventories for October will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 34 points to 15,802.00, while the Standard & Poor's 500 index futures fell 3.30 points to 1,777.50. Futures for the Nasdaq 100 index dropped 5 points to 3,465.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.59%, London's FTSE 100 index dropping 1.06% and STOXX Europe 600 Index declining 0.79%. German DAX 30 index dropped 0.71% and French CAC 40 Index fell 0.29%.

Asian markets ended lower today. Japan's Nikkei Stock Average declined 1.12%, China's Shanghai Composite dropped 0.06%, Hong Kong's Hang Seng Index fell 0.51% and India's BSE Sensex tumbled 1.16%. Australian unemployment rate climbed to 5.8% in November versus 5.7% in October.

Broker Recommendation

Analysts at Bank of America upgraded Southwest Airlines Company (NYSE: LUV) from “neutral” to “buy.” The target price for Southwest Airlines has been raised from $18 to $23.

Southwest Airlines' shares closed at $17.97 yesterday.

Breaking news

  • Trimble (NASDAQ: TRMB) announced today that it has acquired the assets of privately-held C3 of Madison, Wis. The acquisition will enable Trimble to provide unique soil information as well as decision recommendations to farmers' trusted advisors—such as agronomists, Trimble resellers or Ag retail suppliers. To read the full news, click here.
  • Ascent Solar Technologies (NASDAQ: ASTI) announced today distribution partnerships with Kyodo International Corp. and NARA Co Ltd. for the company's EnerPlex line of consumer products in Japan. Kyodo International Corp. based in Osaka, specializes in supporting the entry of consumer electronic goods into the Japanese marketplace. To read the full news, click here.
  • Orion Marine Group (NYSE: ORN) today announced a contract award of approximately $14 million. To read the full news, click here.
  • Krispy Kreme (NYSE: KKD) announced today that it plans to open its first store in Delhi on Saturday, December 14, 2013. To read the full news, click here.

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


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