US Stock Futures Gain Ahead Of Fed Policy Decision
US stock futures surged in early pre-market trade, ahead of economic data. The ADP national employment report for July will be released at 8:15 a.m. ET, while GDP growth data for the second quarter will be released at 8:30 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 35 points to 16,880.00, while the Standard & Poor's 500 index futures rose 4.60 points to 1,967.60. Futures for the Nasdaq 100 index gained 12.75 points to 3,965.00.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index rising 0.69%, STOXX Europe 600 Index dropping 0.06%. German DAX 30 index rose 0.09%, French CAC 40 Index declined 0.13% and London's FTSE 100 Index dropped 0.05%. French consumer confidence remained unchanged at 86 in July, while Spain economy rose 0.6% in the second quarter versus the first quarter.
In Asian markets, Japan's Nikkei Stock Average rose 0.18%, Hong Kong's Hang Seng Index surged 0.37%, China's Shanghai Composite Index dropped 0.09% and India's Sensex jumped 0.37%.. Japan's industrial production dropped 3.3% in June, versus a 0.7% gain in May.
Analysts at Bank of America upgraded Twitter (NYSE: TWTR) from Neutral to Buy.
Twitter's shares gained 25.89% to $48.58 in pre-market trading.
- WellPoint (NYSE: WLP) reported better-than-expected second-quarter profit. The Indianapolis, Indiana-based company posted a quarterly net income of $731 million, or $2.56 per share, compared to $800 million, or $2.64 per share, in the year-ago period. To read the full news, click here.
- Le Gaga Holdings (NASDAQ: GAGA) today announced that it has entered into a definitive Agreement and Plan of Merger with Harvest Parent Limited, a Cayman Islands exempted company with limited liability, and Harvest Merger Limited, a Cayman Islands exempted company with limited liability. To read the full news, click here.
- Israel's Nice Systems (NASDAQ: NICE) posted a weaker-than-expected second-quarter and maintained its forecast for the full year. To read the full news, click here.
- Boeing (NYSE: BA) is forecasting continued strong growth in demand for commercial aviation pilots and maintenance technicians as the global fleet expands over the next 20 years. To read the full news, click here.
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