Market Overview

US Stock Futures Flat; All Eyes On Fed Decision

US Stock Futures Flat; All Eyes On Fed Decision
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Pre-open movers

US stock futures traded mostly flat in early pre-market trade, ahead of the Federal Reserve's latest policy decision. The Federal Open Market Committee is scheduled to announce its policy decision at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average were flat at 15,876.00, while the Standard & Poor's 500 index futures fell 0.60 points to 1,787.70. Futures for the Nasdaq 100 index rose 3.50 points to 3,504.50.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 1.09%, London's FTSE 100 index gaining 0.24% and STOXX Europe 600 Index climbing 0.26%. German DAX 30 index rose 0.41% and French CAC 40 Index fell 0.17%. UK's house price index climbed 0.7% in January versus December, Nationwide reported. Italian manufacturing confidence fell to a reading of 97.7 in January versus 98.2 in December.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average surged 2.70%, China's Shanghai Composite gained 0.56%, Hong Kong's Hang Seng Index rose 0.82% and India's BSE Sensex fell 0.18%.

Broker Recommendation

Analysts at Credit Suisse upgraded Wal-Mart Stores (NYSE: WMT) from “neutral” to “outperform.” The target price for Wal-Mart has been raised from $80 to $87.

Wal-Mart's shares closed at $74.67 yesterday.

Breaking news

  • WellPoint (NYSE: WLP) reported a 68% drop in its fourth-quarter profit. For 2014, WellPoint expects earnings of at least $8 per share on operating revenue of around $73 billion. To read the full news, click here.
  • Biogen Idec (NASDAQ: BIIB) reported a 57% rise in its fourth-quarter profit. Biogen Idec's quarterly net profit surged to $457.3 million, or $1.92 per share, versus $292.1 million, or $1.23 per share, in the year-ago period. To read the full news, click here.
  • Italian automaker Fiat (OTC: FIATY) reported weaker-than-expected fourth-quarter earnings and lowered its 2014 forecast. To read the full news, click here.
  • Yahoo! (NASDAQ: YHOO) reported its fourth quarter results after the markets closed on Tuesday. The company announced an EPS of $0.46, beating the consensus estimate of $0.38. Revenue of $1.20 billion was in-line with expectations. To read the full news, click here.

Posted-In: Credit Suisse US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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