Market Overview

US Stock Futures Flat Ahead Of ADP Jobs Report

Related DDS
Top 4 NYSE Stocks In The Department Stores Industry With The Highest EPS
Bank Of America Has Positive Outlook On Dillard's, Inc. Following 10Q
Related AVAV
Earnings Scheduled For September 3, 2014
Can Drone-Maker AeroVironment Compete In A Civilian Environment?

Pre-open movers

US stock futures traded mostly flat in early pre-market trading, ahead of economic data. The ADP national employment report for February will be released at 8:15 a.m. ET. The Markit PMI services index for February will be released at 8:58 a.m. ET, while the ISM non-manufacturing index for February will be released at 10:00 a.m. ET. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average gained 6 points to 16,387.00, while the Standard & Poor's 500 index futures rose 0.70 points to 1,872.30. Futures for the Nasdaq 100 index surged 2.50 points to 3,719.25.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.13%, London's FTSE 100 index dropping 0.52% and STOXX Europe 600 Index declining 0.19%. German DAX 30 index fell 0.38% and French CAC 40 Index declined 0.37%. Euro-zone composite PMI surged to 53.3 in February versus 52.9 in January.

Asian markets ended mixed today. Japan's Nikkei Stock Average gained 1.20%, Hong Kong's Hang Seng Index fell 0.34%, China's Shanghai Composite Index fell 0.89% and India's BSE Index jumped 0.12%. The HSBC China services PMI climbed to 51.0 in February versus 50.7 in January.

Broker Recommendation

Analysts at Credit Suisse downgraded Dillard's (NYSE: DDS) from “outperform” to “neutral.” The price target for Dillard's is set to $93.

Dillard's shares closed at $91.27 yesterday.

Breaking news

  • AeroVironment (NASDAQ: AVAV) shares jumped more than six percent in after hours trading after the company announced its third quarter results. The firm reported a Q3 EPS of $0.49 versus the Street estimate of $0.19. Earnings per share were up 188 percent from the year-ago period. To read the full news, click here.
  • Ceres (NASDAQ: CERE) announced today the pricing of an underwritten public offering of 20,000,000 shares of common stock at a public offering price of $1.00 per share. To read the full news, click here.
  • USEC (NYSE: USU) announced today that it is implementing the agreement reached with a majority of the holders of its senior unsecured convertible notes that was announced in December 2013. To read the full news, click here.
  • Eisai (OTC: ESALF) and Biogen Idec (NASDAQ: BIIB) announced today that they have entered into a collaboration to develop and commercialize two of Eisai's clinical candidates for Alzheimer's disease (AD), E2609 and BAN2401. 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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