US Stock Futures Signal Lower Start On Wall Street
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 mostly 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.
Analysts at Barclays downgraded United Parcel Service, Inc. (NYSE: 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.
- Regeneron Pharmaceuticals (NASDAQ: REGN) and Sanofi (NYSE: 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 (NASDAQ: 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 (NASDAQ: 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 (NYSE: RKT) and MeadWestvaco Corporation (NYSE: 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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