Market Overview

US Stock Futures Edge Higher; All Eyes On Jobs Report

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US Stock Futures Edge Higher; All Eyes On Jobs Report
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Pre-open movers

US stock futures rose in early pre-market trading, ahead of nonfarm-payrolls data. Data on nonfarm payroll employment for February and international trade for January will be released at 8:30 a.m. ET. Data on consumer credit for January will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average gained 11 points to 16,426.00, while the Standard & Poor's 500 index futures rose 1.20 points to 1,877.50. Futures for the Nasdaq 100 index surged 3.50 points to 3,725.50.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.37%, London's FTSE 100 index dropping 0.13% and STOXX Europe 600 Index declining 0.40%. German DAX 30 index fell 0.69% and French CAC 40 Index declined 0.14%. Italian producer price index fell 0.2% in January versus December.

Asian markets ended mixed today. Japan's Nikkei Stock Average gained 0.92%, Hong Kong's Hang Seng Index fell 0.19%, China's Shanghai Composite Index declined 0.08% and India's BSE Index jumped 0.47%.

Broker Recommendation

Analysts at Jefferies downgraded Humana (NYSE: HUM) from “buy” to “hold.” The price target for Humana is set to $111.

Humana's shares closed at $111.47 yesterday.

Breaking news

  • Big Lots (NYSE: BIG) reported a 30% drop in its fourth-quarter earnings. For the new fiscal year, Big Lots expects earnings from continuing operations of $2.25 to $2.45 per share, versus analysts' estimates of $2.44 per share. To read the full news, click here.
  • Incyte (NASDAQ: INCY) today announced that a pivotal Phase III trial of ruxolitinib compared to best available therapy in patients with polycythemia vera who are resistant to or intolerant of hydroxyurea has met its primary endpoint of achieving phlebotomy independence and reducing spleen size by 35 percent or more. To read the full news, click here.
  • FireEye (NASDAQ: FEYE) today announced the pricing of its follow-on public offering of 14,000,000 shares of its common stock at a price to the public of $82.00 per share. To read the full news, click here.
  • Columbia Laboratories (NASDAQ: CBRX) announced today that the Company has repurchased 1.4 million shares of its common stock, par value $0.01 per share, from Coventry Acquisition, LLC, a subsidiary of Actavis (NYSE: ACT), at $6.08 per share, which represents a 10.75% discount to the closing price on Thursday, March 6, 2014. To read the full news, click here.

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

 

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