Market Overview

US Stock Futures Rise Ahead Of Consumer Prices, Housing Starts Data

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Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of economic data. The consumer price index for July and housing starts data for July will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 34 points to 16,827.00, while the Standard & Poor's 500 index futures rose 2.30 points to 1,969.80. Futures for the Nasdaq 100 index gained 7 points to 4,020.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.22%, STOXX Europe 600 Index rising 0.34%. German DAX 30 index surged 0.77%, French CAC 40 Index climbed 0.33% and London's FTSE 100 Index gained 0.37%. The euro zone's current account surplus narrowed to EUR13.1 billion in June, from EUR19.8 billion in May.

In Asian markets, Japan's Nikkei Stock Average jumped 0.83%, Hong Kong's Hang Seng Index climbed 0.67%, China's Shanghai Composite Index rose 0.26% and India's Sensex surged 0.11%.

Broker Recommendation
Analysts at Piper Jaffray downgraded Guess? (NYSE: GES) from Overweight to Neutral. The target price for Guess has been lowered from $32 to $25.

Guess' shares closed at $26.24 yesterday.

Breaking news

  • Shares of Home Depot (NYSE: HD) surged more than 3.4% in pre-market trading after the company reported better-than-expected second-quarter earnings and lifted its 2014 earnings outlook. To read the full news, click here.
  • On Monday, Aeropostale (NYSE: ARO) boosted its second quarter guidance and announced a management change. To read the full news, click here.
  • Acacia Research (NASDAQ: ACTG) announced today that its Innovative Display Technologies LLC and Delaware Display Group LLC subsidiaries has entered into an agreement with RPX. To read the full news, click here.
  • CYREN (NASDAQ: CYRN) today announced the appointment of Michael Myshrall to the permanent role of Chief Financial Officer. Myshrall has served as interim CFO since March. To read the full news, click here.

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

 

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