US Stock Futures Rise Ahead Of Earnings, Economic Data

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Pre-open movers
US stock futures traded higher in early pre-market trade, ahead of earnings. Data on weekly jobless claims and the Chicago Fed National Activity Index for September will be released at 8:30 a.m. ET. The FHFA house price index for August will be released at 9:00 a.m. ET, while the Markit PMI manufacturing index for October will be released at 9:45 a.m. ET. The Conference Board's index of leading indicators for September will be released at 10:00 a.m. ET, while the Kansas City Fed manufacturing index for October will be released at 11:00 a.m. ET. Futures for the Dow Jones Industrial Average jumped 60 points to 16,485.00, while the Standard & Poor's 500 index futures rose 9 points to 1,934.10. Futures for the Nasdaq 100 index climbed 18.75 points to 3,968.00.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index dropping 0.32%, STOXX Europe 600 Index falling 0.25%. German DAX 30 index climbed 0.15%, French CAC 40 Index rose 0.01% and London's FTSE 100 Index dropped 0.52%. Spain's unemployment rate declined to 23.7% in the third quarter, versus 24.5% in the second quarter. French business sentiment climbed to 97 in October, versus 96 in September. The eurozone manufacturing PMI surged to 51.9 in October. In Asian markets, Japan's Nikkei Stock Average fell 0.37%, Hong Kong's Hang Seng Index dropped 0.30% and China's Shanghai Composite Index dropped 1.04%.
Broker Recommendation
Analysts at Credit Suisse downgraded Boeing Company (The)
BA
from Outperform to Neutral. The price target for Boeing Company has been lowered from $162.00 to $133.00. Boeing Company's shares fell 0.54% to $120.80 in pre-market trading.
Breaking news
  • Comcast CMCSA reported better-than-expected third-quarter profit. To read the full news, click here.
  • Biogen Idec BIIB today announced that two leading neuroscientists have joined the company to advance its research in neurodegenerative diseases. Christopher Henderson, Ph.D., joins as vice president, Neurology. To read the full news, click here.
  • Eli Lilly & Co LLY reported a drop in its third-quarter earnings. To read the full news, click here.
  • POZEN POZN today announced that it has received three patents from the United States Patent and Trademark Office (USPTO), entitled “Pharmaceutical Compositions for the Coordinated Delivery of NSAIDs” that cover the U.S. approved product VIMOVO® (naproxen / esomeprazole magnesium) delayed-release tablets. To read the full news, click here.
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Posted In: NewsEurozoneFuturesPre-Market OutlookMarketsCredit SuisseUS Stock Futures
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