Pre-open movers
US stock futures traded higher in early pre-market trade. Data on weekly jobless claims will be released at 8:30 a.m. ET, while the Chicago PMI for December will be released at 9:45 a.m. ET. The pending home sales index for November will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 11 points to 17,952.00, while the Standard & Poor's 500 index futures rose 2.90 points to 2,079.60. Futures for the Nasdaq 100 index climbed 4.25 points to 4,287.00.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index falling 0.05%, STOXX Europe 600 Index rising 0.33%. French CAC 40 Index rose 0.63% and London's FTSE 100 Index fell 0.23%.
In Asian markets, Hong Kong's Hang Seng Index gained 0.44%, China's Shanghai Composite Index jumped 2.18% and India's Sensex jumped 0.57%. The final reading of the HSBC Manufacturing PMI declined to 49.6 in December, versus 50 in November.
Broker Recommendation
Analysts at Compass Point downgraded
Meadowbrook Insurance (NYSE:
MIG) from Buy to Neutral. The price target for Meadowbrook Insurance has been raised from $7 to $8.65.
Meadowbrook Insurance's shares closed at $7.13 yesterday.
Breaking news - Walgreen Co. and Alliance Boots GmbH today completed Step 2 of their strategic partnership to form Walgreens Boots Alliance, Inc. (NASDAQ: WBA), finalizing the two-step merger launched in 2012 to create the world's first global pharmacy-led, health and wellbeing enterprise. To read the full news, click here.
- United Therapeutics Corporation (NASDAQ: UTHR) announced today the signing of an agreement with DEKA Research & Development Corp. for the development of a potential technology breakthrough in the subcutaneous delivery of Remodulin® (treprostinil) Injection to patients with pulmonary arterial hypertension (PAH) via a pre-filled semi-disposable pump system. To read the full news, click here.
- Renren Inc. (NYSE: RENN) today announced that effective close of business on December 31, 2014, Ms. Hui Huang will resign as the Chief Financial Officer of Renren Inc., a position she has held since March 2010. To read the full news, click here.
- NephroGenex, Inc. (NASDAQ: NRX) announced the Company has successfully completed a thorough QT/QTc (TQT) cardiac safety study on Pyridorin. To read the full news, click here.
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