US Stock Futures Signal Lower Start On Wall Street

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Pre-open movers
US stock futures traded lower in early pre-market trade. The Markit PMI services index (flash) for January will be released at 9:45 a.m. ET, while the Dallas Fed general business activity index for January will be released at 10:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 67 points to 17,521.00, while the Standard & Poor's 500 index futures fell 6.40 points to 2,037.50. Futures for the Nasdaq 100 index declined 7.25 points to 4,259.75.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.25%, STOXX Europe 600 Index gaining 0.01% and German DAX 30 index rising 0.65%. French CAC 40 Index surged 0.01% and London's FTSE 100 Index fell 0.54%. In Asian markets, Japan's Nikkei Stock Average fell 0.25%, Hong Kong's Hang Seng Index climbed 0.24% and China's Shanghai Composite Index jumped 0.94%. Japan's trade deficit shrank to Y660.7 billion in December.
Broker Recommendation
Analysts at Barclays downgraded
United Parcel Service, Inc. UPS
from Overweight to Equal-weight. The price target for United Parcel Service has been lowered from $116 to $105. United Parcel Service's shares closed at $102.93 on Friday.
Breaking news
  • Regeneron Pharmaceuticals REGN and Sanofi SNY today announced that the U.S. Food and Drug Administration (FDA) has accepted for priority review the Biologics License Application (BLA) for PraluentTM (alirocumab). To read the full news, click here.
  • Shire plc SHPG announces that the United States Food and Drug Administration has granted Fast Track designation for SHP609 (idursulfase-IT; also known as HGT-2310) for the treatment of neurocognitive decline associated with Hunter syndrome (mucopolysaccharidosis II or MPSII). To read the full news, click here.
  • Gilead Sciences GILD today announced that the company has expanded its hepatitis C generic licensing agreements to include the investigational NS5A inhibitor GS-5816, which is being evaluated in Phase 3 clinical studies as part of a single tablet regimen that combines the compound and sofosbuvir for the treatment of all six genotypes of hepatitis C. To read the full news, click here.
  • Rock-Tenn Company RKT and MeadWestvaco Corporation MWV today announced that they have entered into a definitive combination agreement to create a leading global provider of consumer and corrugated packaging ("NewCo") in a transaction with a combined equity value of $16 billion. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsBarclaysUS Stock Futures
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