Market Overview

US Stock Futures Surge Ahead Of GM Earnings, Jobless Claims Data

US Stock Futures Surge Ahead Of GM Earnings, Jobless Claims Data
Related GMK
Top 4 Mid-Cap Stocks In The Processed & Packaged Goods Industry With The Lowest PEG Ratio
5 Consumer Goods Stocks With The Highest EPS Growth Forecast For Next 5 Years
Related FITB
Oppenheimer Bank Analysts Have Trouble Sleeping Because Of These Risks
Did Oppenheimer Just Call The Bottom In Bank Stocks?
Financial names battered as rates plunge (Seeking Alpha)

Pre-open movers

US stock futures gained in early pre-market trade, ahead of earnings from General Motors Company (NYSE: GM) and Kellogg Company (NYSE: K). The Challenger job-cut for January will be released at 7:30 a.m. ET. Data on international trade for December, weekly jobless claims and nonfarm business productivity for the fourth quarter will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 73 points to 15,440.00, while the Standard & Poor's 500 index futures rose 8.70 points to 1,752.70. Futures for the Nasdaq 100 index gained 17.75 points to 3,463.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.20%, London's FTSE 100 index gaining 0.72% and STOXX Europe 600 Index climbing 0.97%. German DAX 30 index rose 1.09% and French CAC 40 Index climbed 1.23%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average fell 0.18%, Hong Kong's Hang Seng Index gained 0.72% and India's BSE Sensex surged 0.25%. The HSBC Hong Kong's PMI surged to 52.7 in January versus 51.2 in December. Australia's trade surplus widened to 468 million Australian dollars (US$420 million) in December from A$83 million in November, while the country's retail sales increased 0.5% y/y in December.

Broker Recommendation

Analysts at Bank of America upgraded Fifth Third Bancorp (NASDAQ: FITB) from “neutral” to “buy.” The price target for Fifth Third Bancorp has been raised from $23 to $24.

Fifth Third's shares closed at $20.65 yesterday.

Breaking news

  • Dunkin' Brands Group (NASDAQ: DNKN) reported a 23% gain in its fourth-quarter profit. Dunkin' Brands' quarterly net income surged to $42.1 million, or $0.39 per share, versus $34.3 million, or $0.32 per share, in the year-ago period. To read the full news, click here.
  • Repros Therapeutics (NASDAQ: RPRX) today announced the outcome of its previously announced meeting with the FDA regarding the Androxal® Phase 3 data requirements for an NDA in the treatment of secondary hypogonadism. To read the full news, click here.
  • Sony (NYSE: SNE) posted a profit in the October-December quarter and lowered its forecast for the fiscal-year ended March. The company announced its plans to sell its Vaio personal-computer business to Japan Industrial Partners. To read the full news, click here.
  • Costco Wholesale (NASDAQ: COST) reported upbeat same-store sales for January. Costco's sales at stores open at least a year climbed 4% in January. To read the full news, click here.

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


Related Articles (COST + DNKN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters