Market Overview

US Stock Futures Rise Ahead Of Existing-Home Sales Data

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Pre-open movers

US stock futures rose in early pre-market trading, ahead of existing-home sales data. Data on existing home sales for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 32 points to 16,132.00, while the Standard & Poor's 500 index futures rose 3.50 points to 1,839.70. Futures for the Nasdaq 100 index gained 6.25 points to 3,677.75.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index falling 0.29%, London's FTSE 100 index gaining 0.19% and STOXX Europe 600 Index rising 0.22%. German DAX 30 index fell 0.01% and French CAC 40 Index surged 0.32%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average surged 2.88%, Hong Kong's Hang Seng Index rose 0.78%, China's Shanghai Composite Index declined 1.17% and India's BSE Sensex gained 0.8%.

Broker Recommendation

Analysts at Keefe Bruyette & Woods upgraded EMC Insurance Group (NASDAQ: EMCI) from “market perform” to “outperform.” The price target for EMC Insurance has been raised from $30 to $35.

EMC Insurance's shares closed at $28.33 yesterday.

Breaking news

  • Dish Network (NASDAQ: DISH) reported a 38% rise in its fourth-quarter profit. Dish's quarterly earnings surged to $288 million, or $0.63 per share, from a year-ago profit of $209.1 million, or $0.46 per share. To read the full news, click here.
  • Isis Pharmaceuticals (NASDAQ: ISIS) today announced top-line results from an ongoing open-label, multiple-dose study of ISIS-SMNRx in children with spinal muscular atrophy (SMA). To read the full news, click here.
  • Oriental Trading Company today announced an agreement to acquire SmileMakers, a direct retailer of patient giveaways and practice promotions developed for the dental and healthcare markets, as well as classroom incentives and aids to the education market. To read the full news, click here.
  • The Cash Store Financial Services (NYSE: CSFS) today announced that the special committee of its Board of Directors has selected Rothschild as its independent financial advisor to assist it in its strategic alternative review process. To read the full news, click here.

Posted-In: Keefe Bruyette & Woods US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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