US Stock Futures Edge Higher Ahead Of Economic Data

US stock futures traded higher in early pre-market trade. Data on durable goods orders for November, GDP growth for the third quarter and consumer spending for November will be released at 8:30 a.m. ET. The FHFA house price index for October will be released at 9:00 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for December will be released at 9:55 a.m. ET. Data on new home sales for November and the Richmond Fed manufacturing index for December will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average jumped 25 points to 17,922.00, while the Standard & Poor's 500 index futures rose 1.90 points to 2,074.30. Futures for the Nasdaq 100 index climbed 5.25 points to 4,297.00.

European markets were higher today, with the Spanish Ibex Index gaining 0.38%, STOXX Europe 600 Index rising 0.34%. German DAX 30 index climbed 0.24%, French CAC 40 Index gained 0.72% and London's FTSE 100 Index rose 0.35%. In Asian markets, Hong Kong's Hang Seng Index dropped 0.32%, China's Shanghai Composite Index slipped 3.03% and India's Sensex declined 0.71%.

Analysts at Baird downgraded

from Outperform to Neutral. The price target for Achillion Pharmaceuticals has been raised from $12 to $16. Achillion Pharmaceuticals' shares closed at $15.49 yesterday.