US Stock Futures Surge Ahead Of Economic Data - Hormel Foods (NYSE:HRL), American Eagle Outfitters (NYSE:AEO)

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Pre-open moversUS stock futures traded higher in early pre-market trade, ahead of economic data. Data on weekly jobless claims will be released at 8:30 a.m. ET, while the Markit PMI manufacturing index (flash) for August will be released at 9:45 a.m. ET. The general conditions index of the Philadelphia Fed's Survey for August, the Conference Board's index of leading indicators for July and existing home sales data for July will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 38 points to 16,988.00, while the Standard & Poor's 500 index futures rose 4 points to 1,987.30. Futures for the Nasdaq 100 index gained 5.50 point to 4,045.00.

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A Peek Into Global Markets European markets were higher today, with the Spanish Ibex Index gaining 1%, STOXX Europe 600 Index rising 0.42%. German DAX 30 index climbed 0.45%, French CAC 40 Index rose 0.63% and London's FTSE 100 Index gained 0.24%. Euro-zone PMI dropped to 52.8 in August versus 53.8 in July.In Asian markets, Japan's Nikkei Stock Average jumped 0.85%, Hong Kong's Hang Seng Index fell 0.66%, China's Shanghai Composite Index fell 0.44% and India's Sensex gained 0.17%. The preliminary reading of HSBC's China manufacturing PMI dropped to 50.3 in August, versus July's final reading of 51.7.Broker Recommendation

Analysts at Janney Capital upgraded American Eagle Outfitters (NYSE: AEO) from Neutral to Buy. The target price for American Eagle has been raised from $10 to $15. American Eagle's shares gained 0.92% to $13.10 in pre-market trading. Breaking news

Hormel Foods (NYSE: HRL) reported better-than-expected fiscal third-quarter profit. To read the full news, click here.
Illumina (NASDAQ: ILMN) today announced it has formed collaborative partnerships with leading pharmaceutical companies to develop a universal next-generation sequencing (NGS)-based oncology test system. To read the full news, click here.
Royal Philips (NYSE: PHG) today announced it has received 510(k) clearance from the U.S. Food and Drug Administration to market its precision planning application for Transcatheter Aortic-Valve Implantation (TAVI) treatments. To read the full news, click here.
Duke LifePoint Healthcare announced today that it has signed a definitive agreement to acquire Conemaugh Health System. To read the full news, click here.