US Stock Futures Up Ahead Of Auto Sales, Construction Spending Data

Pre-open movers US stock futures traded higher in early pre-market trade. Data on motor vehicle sales for November will be released today, while construction spending data for October will be released at 10:00 a.m. ET. Crude oil futures fell 1.10% to trade at $65.41 a barrel. Futures for the Dow Jones Industrial Average surged 30 points to 17,785.00, while the Standard & Poor's 500 index futures rose 2.50 points to 2,053.30. Futures for the Nasdaq 100 index jumped 9.50 points to 4,296.00. A Peek Into Global Markets European markets were mostly higher today, with the Spanish Ibex Index rising 0.15%, STOXX Europe 600 Index gaining 0.34%. German DAX 30 index slipped 0.20%, French CAC 40 Index rose 0.08% and London's FTSE 100 Index climbed 1.02%. In Asian markets, Japan's Nikkei Stock Average rose 0.42%, Hong Kong's Hang Seng Index surged 1.23%, China's Shanghai Composite Index jumped 3.11% and India's Sensex declined 0.40%. Broker Recommendation Analysts at Topeka Capital upgraded Cypress Semiconductor CY from Hold to Buy. The price target for Cypress Semiconductor has been raised from $10.50 to $13. Cypress' shares climbed 12.56% to $11.74 in after-hours trading. Breaking news

• Oncolytics Biotech ONCY today announced that it has submitted applications for Orphan Drug Designation to the U.S. Food and Drug Administration ("FDA") for REOLYSIN® for the treatment of pancreatic and ovarian cancers. To read the full news, click here.
• NTELOS Holdings NTLS announced today several strategic initiatives to refocus on its Western Markets. To read the full news, click here.
• Arthur J. Gallagher & Co. AJG announced Monday, the acquisition of Instrat Insurance Brokers Pty Ltd (Instrat) located in Clayton North, Victoria, Australia. To read the full news, click here.
• Cypress Semiconductor CY and Spansion CODE announced Monday that they will merge in an all-stock, tax-free transaction valued at approximately $4 billion. To read the full news, click here.