Market Overview

US Stock Futures Up Ahead Of Economic Data

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Pre-open movers

US stock futures gained in early pre-market trade, ahead of economic data. The Empire State manufacturing index and nonfarm business productivity data will be released at 8:30 a.m. ET. The Markit PMI manufacturing index (flash) for December will be released at 8:58 p.m. ET, while industrial production data for November will be released at 9:15 a.m. ET. Futures for the Dow Jones Industrial Average surged 65 points to 15,766.00, while the Standard & Poor's 500 index futures rose 7.40 points to 1,775.90. Futures for the Nasdaq 100 index gained 14.25 points to 3,467.50.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.55%, London's FTSE 100 index gaining 0.48% and STOXX Europe 600 Index rising 0.65%. German DAX 30 index surged 1.33% and French CAC 40 Index rose 0.83%. Euro-zone composite PMI surged to 52.1 in December from 51.7. Euro-zone trade surplus rose to 17.2 billion euros ($23.62 billion) in October, from 9.6 billion euro surplus in the year-ago period.

Asian markets ended lower today. Japan's Nikkei Stock Average tumbled 1.62%, China's Shanghai Composite dropped 1.60%, Hong Kong's Hang Seng Index fell 0.56% and India's BSE Sensex tumbled 0.27%.

Broker Recommendation

Analysts at Deutsche Bank downgraded Con-Way (NYSE: CNW) from “buy” to “hold.” The target price for Con-Way has been lowered from $46 to $45.

Con-Way's shares closed at $39.75 on Friday.

Breaking news

  • Harvest Natural Resources (NYSE: HNR) today announced that it and its wholly-owned subsidiary, HNR Energia BV, have entered into a Share Purchase Agreement with Petroandina Resources Corporation NV and Pluspetrol Resources Corporation BV to sell, in two separate transactions, all of the Company's interests in Venezuela, for an aggregate of $400.0 million in cash. To read the full news, click here.
  • AerCap Holdings (NYSE: AER) today announced that it has entered into a definitive agreement with American International Group (NYSE: AIG) under which AerCap will acquire 100% of the common stock of International Lease Finance Corporation ("ILFC"), a wholly-owned subsidiary of AIG. To read the full news, click here.
  • LightInTheBox Holding (NYSE: LITB) today announced that its Board of Directors has authorized a share repurchase program to repurchase up to $20 million worth of its outstanding American Depositary Shares representing its ordinary shares through December 15, 2014. To read the full news, click here.
  • Wi-LAN (NASDAQ: WILN) has entered into a patent assignment agreement with Panasonic (OTC: PCRFY) under which Panasonic will assign to Collabo Innovations Inc., a new WiLAN subsidiary, certain patents from Panasonic Automotive & Industrial Systems Co., one of Panasonic's internal companies. 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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