Market Overview

US Stock Futures Jump Ahead Of Economic Data

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US Stock Futures Jump Ahead Of Economic Data
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Pre-open movers

US stock futures jumped in early pre-market trading, ahead of economic data. The Empire State manufacturing index for March will be released at 8:30 a.m. ET, while industrial production for January will be released at 9:15 a.m. ET. The NAHB housing market index for March will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 101 points to 16,093.00, while the Standard & Poor's 500 index futures rose 11.60 points to 1,844.50. Futures for the Nasdaq 100 index climbed 27.50 points to 3,648.50.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.92%, London's FTSE 100 index rising 0.42% and STOXX Europe 600 Index jumping 0.61%. German DAX 30 index climbed 0.61% and French CAC 40 Index surged 0.60%. Euro-zone consumer prices rose 0.3% in February from January.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average declined 0.35%, Hong Kong's Hang Seng Index slipped 0.30% and China's Shanghai Composite Index climbed 0.96%.

Broker Recommendation

Analysts at Credit Suisse downgraded GNC Holdings (NYSE: GNC) from “buy” to “neutral.” The target price for GNC Holdings has been lowered from $65 to $51.

GNC Holdings' shares closed at $46.55 yesterday.

Breaking news

  • Alcoa (NYSE: AA) is investing US$13 million to expand its wheel manufacturing plant in Europe, to meet growing demand for its lightweight, durable, low-maintenance aluminum truck wheels. To read the full news, click here.
  • L & L Energy (NASDAQ: LLEN) announced today that its Special Independent Committee has appointed Mr. Nicholas Chen, Managing Partner at Pamir Law Group, to replace Mr. Mark Bartlett. To read the full news, click here.
  • Five Prime Therapeutics (NASDAQ: FPRX) and Bristol-Myers Squibb (NYSE: BMY) announced today that they have signed a collaboration agreement for the discovery, development and commercialization of immuno-oncology therapies directed toward targets identified in two undisclosed immune checkpoint pathways using Five Prime's proprietary target discovery platform. To read the full news, click here.
  • First Solar (NASDAQ: FSLR) on Sunday announced the completion of the 1.3MW(DC) solar photovoltaic (PV) power plant at Kitakyushu-shi. Powered by First Solar FS Series 3 Black PV modules, the plant will generate approximately 1,400 MWh of clean and safe solar electricity per year. 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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