US Stock Futures Gain Ahead Of Consumer Data
US stock futures traded higher in early pre-market trade, ahead of economic data. Data on consumer spending for July will be released at 8:30 a.m. ET, while the Chicago PMI for July will be released at 9:45 a.m. ET. The Reuter's/University of Michigan's consumer sentiment index for August will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 40 points to 17,117.00, while the Standard & Poor's 500 index futures rose 5.40 points to 2,002.10. Futures for the Nasdaq 100 index gained 11.25 points to 4,081.00.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.07%, STOXX Europe 600 Index gaining 0.16%. German DAX 30 index climbed 0.23%, French CAC 40 Index rose 0.22% and London's FTSE 100 Index gained 0.16%. Inflation in the euro zone dropped to 0.3% in August, versus 0.4% in July.
In Asian markets, Japan's Nikkei Stock Average fell 0.23%, Hong Kong's Hang Seng Index rose 1.06 points and China's Shanghai Composite Index jumped 0.97%. Japan's industrial output gained 0.2% in July, while retail sales rose 0.5% y/y in the month. The country's the jobless rate also increased to 3.8% in July.
Analysts at JP Morgan upgraded AGCO (NYSE: AGCO) from Underperform to Neutral. The target price for AGCO has been raised from $50 to $51.
AGCO's shares closed at $48.23 yesterday.
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