US Stock Futures Flat Ahead Of Fed Speakers

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Pre-open movers
US stock futures traded mostly flat in early pre-market trade. Atlanta Federal Reserve Bank President Dennis Lockhart will give a speech in Orlando, Florida at 8:10 a.m. ET, while Chicago Federal Reserve Bank President Charles Evans will give a speech in Chicago at 10:30 a.m. ET. Federal Reserve governor Lael Brainard will give a speech on the economic outlook in Washington at 4:30 p.m. ET. Futures for the Dow Jones Industrial Average surged 6.5 points to 16,997.5, while the Standard & Poor's 500 index futures rose 0.25 points to 2,007.75. Futures for the Nasdaq 100 index slipped 0.25 points to 4,359.25.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index declining 0.14 percent, STOXX Europe 600 Index dropping 0.24 percent and German DAX 30 index gaining 0.13 percent. French CAC 40 Index declined 0.50 percent and London's FTSE 100 Index fell 0.47 percent. In Asian markets, Hong Kong's Hang Seng Index rose 1.21 percent, China's Shanghai Composite Index jumped 3.28 percent and India's BSE Sensex slipped 0.65 percent.
Broker Recommendation
Analysts at Baird upgraded
NetApp Inc. NTAP
to Outperform and raised the price target from $35.00 to $40.00. NetApp shares rose 2.76 percent to close at $33.16 on Friday.
Breaking news
  • KKR & Co. L.P. KKR announced today the signing of a definitive agreement with Allianz Capital Partners to acquire their majority stake in Selecta Group. To read the full news, click here.
  • Indian company Infosys Ltd ADR INFY reported a rise in its profit for the second quarter. However, the company lowered its revenue forecast for fiscal year 2016. To read the full news, click here.
  • Dako, an Agilent Technologies Inc A company and a worldwide provider of cancer diagnostics, announced Oct. 9 that the U.S. Food and Drug Administration has approved a new test that can identify PD-L1 expression levels on the surface of non-small cell lung cancer tumor cells and provide information on the survival benefit with OPDIVO® (nivolumab) for patients with non-squamous NSCLC. To read the full news, click here.
  • Eli Lilly and Co LLY and Innovent Biologics, Inc. (Innovent) today announced an expansion of their drug development collaboration, already one of the largest in China between a multi-national and domestic biopharmaceutical company. To read the full news, click here.
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Posted In: NewsEurozoneFuturesGlobalPre-Market OutlookMarketsBairdUS Stock Futures
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