Market Overview

US Stock Futures Gain Ahead Of Consumer Spending Data

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Pre-open movers

US stock futures rose in early pre-market trading, ahead of economic data. Data on consumer spending for February will be released at 8:30 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for March will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 43 points to 16,225.00, while the Standard & Poor's 500 index futures rose 6.20 points to 1,846.80. Futures for the Nasdaq 100 index gained 15.75 points to 3,570.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.06%, London's FTSE 100 index gaining 0.42% and STOXX Europe 600 Index jumping 0.69%. German DAX 30 index climbed 1.03% and French CAC 40 Index rose 0.44%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average rose 0.50%, Hong Kong's Hang Seng Index jumped 1.06% and China's Shanghai Composite Index fell 0.24% and India's BSE Sensex climbed 0.57%. Japan's retail sales climbed 3.6% y/y in February, while the core consumer price index gained 1.3% y/y in February. Japan's unemployment rate fell to 3.6% in February, from 3.7% in January.

Broker Recommendation

Analysts at RBC Capital upgraded Finisar (NASDAQ: FNSR) from “sector perform” to “outperform.” The target price for Finisar has been raised from $26 to $30.

Finisar's shares closed at $25.54 yesterday.

Breaking news

  • LipoScience (NASDAQ: LPDX) today announced the termination of its relationship with Health Diagnostics Laboratory, one of its laboratory customers. To read the full news, click here.
  • Ford Motor Company (NYSE: F) will invest $500 million to upgrade its Lima Engine Plant and add 300 new jobs to support production of the all-new 2.7-liter EcoBoost® specifically engineered for the next-generation 2015 Ford F-150.To read the full news, click here.
  • Taomee Holdings (NYSE: TAOM) today announced that its Board of Directors approved a share repurchase plan on March 28, 2014, effective upon the approval. To read the full news, click here.
  • BlackBerry (NASDAQ: BBRY) posted a narrower-than-expected fourth-quarter loss. BlackBerry posted a quarterly net loss of $423 million, or $0.80 per share, versus a year-ago profit of $98 million, or $0.19 per share. To read the full news, click here.

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

 

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