Market Overview

US Stock Futures Nudge Higher Ahead Of Jobs Data

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Pre-open movers

US stock futures gained in early pre-market trading, ahead of jobs data. Data on nonfarm payroll employment for March will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 20 points to 16,521.00, while the Standard & Poor's 500 index futures rose 2.70 points to 1,885.70. Futures for the Nasdaq 100 index gained 7.75 points to 3,638.50.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.05%, London's FTSE 100 index gaining 0.45% and STOXX Europe 600 Index rising 0.16%. German DAX 30 index surged 0.35% and French CAC 40 Index rose 0.25%. German manufacturing orders rose 0.6% in February.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average fell 0.05%, Hong Kong's Hang Seng Index declined 0.24% and China's Shanghai Composite Index rose 0.74% and India's BSE Sensex dropped 0.66%

Broker Recommendation

Analysts at Bank of America upgraded Gamestop (NYSE: GME) from “neutral” to “buy.” The target price for Gamestop has been raised from $43 to $56.

Gamestop's shares closed at $44.39 yesterday.

Breaking news

  • USA Technologies (NASDAQ: USAT) today announced a new, exclusive agreement with The Pepi Companies that USAT believes exemplifies the future of integrated cashless payment, telemetry and consumer engagement services. To read the full news, click here.
  • Intercept Pharmaceuticals (NASDAQ: ICPT) today announced the pricing of its previously announced underwritten public offering of 1,000,000 shares of its common stock at a public offering price of $320.00 per share. To read the full news, click here.
  • Arthur J. Gallagher & Co (NYSE: AJG) today announced the acquisition of Mike Henry Insurance Brokers Limited (MHIB) headquartered in Auckland, New Zealand. To read the full news, click here.
  • Sales at General Motors Co (NYSE: GM) and its Chinese joint ventures rose 7.8% y/y to 313,283 vehicles in China in March, versus a 19.9% gain in February. To read the full news, click here.

Posted-In: Bank of America US Stock FuturesNews Global Pre-Market Outlook

 

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