A Peek Into The Market Before The Trading Starts

US stock futures were mixed as investors are awaiting speech by Federal Reserve Chairman Ben Bernanke. Several economic reports are also scheduled to release today. Futures on the Dow Jones Industrial Average fell 19 points to 11,033, while S&P 500 futures were down 1.50 points at 1,172. Nasdaq Composite futures gained 1.50 points at 2,064.

Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.17%, London's FTSE 100 Index moved down 0.47%. Most of the Asian markets ended in the negative territory, with Japan's Nikkei Stock Average losing 0.87%, Australia's S&P/ASX 200 moving down 0.16% and China's Shanghai Composite gaining 3.19%.

Piper Jaffray raised its price target on shares of Google Inc.

to $652 from $623, after the company reported much strong than expected earnings last night after the bell. It is keeping its rating at Overweight. In a note sent to clients, Piper Jaffray writes, "Google reported Q3 revenue and EPS above consensus ($7.64 on $5.48 billion vs. the Street at $6.69 on $5.27 billion). The strong revenue beat was driven by greater than expected paid click growth of 4% q/q and 16% y/y. While we continue maintain our OW rating and believe in the near term story as investors adjust 2011 expectations higher, we believe longer term pressure is mounting for Google to introduce new, meaningful product to provide a sustainable ~15-20% growth rate beyond 2011." Shares of GOOG are up $48.56 to $589.49 in pre-market trading, a gain of 9%.

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