Market Overview

A Peek Into The Market Before The Trading Starts

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Pre-open movers US stock futures are flat this morning, as investors are awaiting a speech from Federal Reserve Chairman Ben Bernanke. Futures for the Dow Jones Industrial Average surged 5 points to 11,136.00 and S&P 500 index futures rose 0.10 points to 1,157.60. Nasdaq 100 futures gained 2.25 points to 2,113.25.

A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index fell 0.96%, London's FTSE 100 Index moved down 0.80%, French CAC 40 index fell 0.92% and German DAX 30 index dropped 1.85%.

Asian markets ended mostly lower, with Japan's Nikkei Stock Average surging 0.29%, Australia's S&P/ASX 200 moving down 0.22% and China's Shanghai Composite dropping 0.12%. Hong Kong's Hang Seng Index fell 0.8586% and India's Sensex dipped 1.75%.

Broker Recommendation Analysts at Sterne Agee upgraded Research In Motion Limited (NASDAQ: RIMM) from “neutral” to “buy.” The target price for Research In Motion has been raised from $28 to $35.

Research In Motion shares gained 1.35% to $28.60 in pre-market trading.

Breaking news

  • Transocean Services AS, a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG), today, after receiving clearance by the Oslo Stock Exchange, launched its all cash voluntary offer for 100 percent of the shares of Aker Drilling ASA for NOK 26.50 per share. To read the full news, click here.
  • The Cato Corporation (NYSE: CATO) announced that its Board of Directors has authorized an increase in the Company's share repurchase program of 2 million shares. To read the full news, click here.
  • Actuate Corporation (NASDAQ: BIRT) today announced a global alliance with Larsen & Toubro Infotech Ltd. To read the full news, click here.
  • Tiffany & Co (NYSE: TIF) reported upbeat second-quarter results and raised its forecast for the year. To read the full news, click here.

Posted-In: Federal Reserve Chairman Ben Bernanke Sterne Agee US Stock FuturesNews Futures Global Pre-Market Outlook Markets

 

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