US Stock Futures Rise Ahead Of Jobless Claims, GDP Data
US stock futures gained in early pre-market trade, ahead of economic data. Data on weekly jobless claims and GDP growth for the fourth quarter will be released at 8:30 a.m. ET. The NAR's pending home sales index for December will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 40 points to 15,738.00, while the Standard & Poor's 500 index futures rose 6.60 points to 1,777.80. Futures for the Nasdaq 100 index gained 16 points to 3,489.00.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index rising 0.05%, London's FTSE 100 index dropping 0.24% and STOXX Europe 600 Index declining 0.31%. German DAX 30 index fell 0.23% and French CAC 40 Index declined 0.20%. Spain's gross domestic product expanded 0.3% in the fourth quarter versus the third quarter. German unemployment fell by 28,000 to 2.927 million in January, while the country's jobless rate came in at 6.8%.
Asian markets ended lower today. Japan's Nikkei Stock Average tumbled 2.45%, China's Shanghai Composite dropped 0.82%, Hong Kong's Hang Seng Index fell 0.48% and India's BSE Sensex slipped 0.72%. The final reading of the HSBC China Manufacturing PMI declined to 49.5 in January, versus a reading of 50.5 in December. New home sales in Australia dropped 0.4% in December versus November.
Analysts at Bank of America maintained Dow Chemical Company (The) (NYSE: DOW) with a “neutral” rating and lifted the price target from $45.00 to $48.00.
Dow Chemical's shares closed at $44.73 yesterday.
- Whirlpool (NYSE: WHR) reported a 48% rise in its fourth-quarter earnings. Whirlpool's quarterly profit surged to $181 million, or $2.26 per share, from a year-ago profit of $122 million, or $1.52 per share. To read the full news, click here.
- Time Warner Cable (NYSE: TWC) posted upbeat fourth-quarter earnings. Time Warner Cable added 39,000 net residential Internet subscribers in the fourth quarter, versus a loss of 24,000 subscribers in the third quarter. To read the full news, click here.
- Facebook (NASDAQ: FB) rose more than six percent in after hours trading after the company reported its fourth quarter results. The social media giant reported a Q4 EPS of $0.31 versus the Street estimate of $0.27. Earnings per share were up 82 percent from the year-ago period. To read the full news, click here.
- Swedish company Ericsson (NASDAQ: ERIC) posted a profit in the fourth quarter. To read the full news, click here.
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