US Stock Futures Dip Ahead Of GDP Data

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Pre-open movers
US stock futures traded lower in early pre-market trade, ahead of earnings from several companies. Data on GDP growth and the employment cost index for the fourth quarter will be released at 8:30 a.m. ET. The Chicago PMI for January will be released at 9:45 a.m. ET, while the University of Michigan's consumer sentiment index for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 120 points to 17,312.00, while the Standard & Poor's 500 index futures fell 12.70 points to 2,005.80. Futures for the Nasdaq 100 index slipped 10.25 points to 4,175.50.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index rising 0.23%, STOXX Europe 600 Index declining 0.13% and German DAX 30 index rising 0.05%. French CAC 40 Index declined 0.12% and London's FTSE 100 Index fell 0.35%. German retail sales climbed 0.2% in December from November. In Asian markets, Japan's Nikkei Stock Average rose 0.39%, Hong Kong's Hang Seng Index declined 0.36%, China's Shanghai Composite Index slipped 1.59% and India's BSE Sensex tumbled 1.68%. Japanese industrial production gained 1.0% from the previous month in December.
Broker Recommendation
Analysts at Evercore ISI upgraded
Yahoo! Inc.YHOO
from Hold to Buy and lowered the price target from $59.00 to $55.00. Yahoo's shares rose 0.66% to $44.02 in pre-market trading.
Breaking news
  • Visa Inc V beat fiscal first-quarter Street estimates and declared a four-for-one stock split. To read the full news, click here.
  • EPIRUS Biopharmaceuticals, Inc. EPRS announced today the pricing of an underwritten public offering of 9.6 million shares of its common stock, offered at a price to the public of $5.00 per share. To read the full news, click here.
  • Japan's Honda Motor Co HMC lowered its profit outlook for the full year. To read the full news, click here.
  • Google Inc. GOOG announced financial results Thursday for the fourth quarter and fiscal year ended December 31, 2014. Revenue came in at $18.10 billion, below estimates of $18.46 billion and above the $15.71 billion reported in the prior year period. Non-GAAP EPS for Q4 was $6.88, below estimates of $7.11 and above the $6.70 reported in the fourth quarter of 2013. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsEvercore ISIUS Stock Futures
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