A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The S&P Corelogic Case-Shiller home price index for October is schedule for release at 9:00 a.m. ET. The Conference Board's consumer confidence index for December, the Richmond Fed manufacturing index for December and the State Street Investor Confidence Index for December will be released at 10:00 a.m. ET. The Dallas Fed Manufacturing index for December is schedule for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 2 points to 19,876.00, while the Standard & Poor’s 500 index futures rose 1 point to 2,261.00. Futures for the Nasdaq 100 index gained 4.75 points to 4,947.25.

Brent crude futures dropped 0.07 percent to trade at $55.12 per barrel, while US WTI crude futures also rose 0.23 percent to trade at $53.14 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.07 percent, STOXX Europe 600 Index rising 0.16 percent and German DAX 30 index gaining 0.13 percent. The UK's FTSE index was trading higher by 0.06 percent, while French CAC 40 Index rose 0.20 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.03 percent, Hong Kong’s Hang Seng Index fell 0.28 percent, China’s Shanghai Composite Index declined 0.25 percent and India’s BSE Sensex gained 1.57 percent.

Broker Recommendation

Analysts at Raymond James downgraded Ritchie Bros. Auctioneers Inc (USA) RBA from Outperform to Market Perform.

Ritchie Bros. Auctioneers shares rose 2.21 percent to close at $36.03 on Friday.

Breaking news

• Ionis Pharmaceuticals Inc IONS disclosed that the FDA has approved Spinraza to treat spinal muscular atrophy.



• Shire PLC (ADR) SHPG announced the FDA approval of Adynovate on Tuesday.



• Groupe Casino has offered to purchase all outstanding ordinary shares of Cnova NV CNV for $5.50 per share in cash.



• Qualcomm Incorporated QCOM disclosed that it has entered into a 3G and 4G Chinese Patent License agreement with Gionee Communication Equipment Co. Ltd.