Market Overview

A Peek Into The Market Before The Trading Starts


Pre-open movers US stock futures are higher this morning after an upbeat German Ifo data. Futures for the Dow Jones Industrial Average surged 76 points to 11,779.00 and S&P 500 index futures rose 10.40 points to 1,209.40. Nasdaq 100 futures gained 17.75 points to 2,230.25.

A Peek Into Global Markets European markets were mostly higher today. The STOXX Europe 600 Index gained 0.46%, London's FTSE 100 Index moved down 0.23%, French CAC 40 index rose 0.95% and German DAX 30 index gained 0.74%.

Asian markets ended mixed, with Japan's Nikkei Stock Average rising 0.4865%, Australia's S&P/ASX 200 moving down 0.17% and China's Shanghai Composite declining 0.10%. Hong Kong's Hang Seng Index rose 0.0553% and India's Sensex dropped 1.33%.

Broker Recommendation Analysts at Jefferies & Company upgraded OGE Energy Corp (NYSE: OGE) from “hold” to “buy.” The target price for OGE Energy has been raised from $56 to $59.50.

OGE Energy shares dropped 1.72% to close at $53.11 yesterday.

Breaking news

  • Agenus Inc. (NASDAQ: AGEN) and NewVac LLC (a subsidiary of ChemRar High Tech Center and resident of the Skolkovo Innovation Center in Russia), announced today that they have entered into a license, development and manufacturing technology transfer agreement for Agenus' Oncophage® (HSPPC-96; vitespen) vaccine. Oncophage is approved in Russia for the treatment of renal cell carcinoma ("RCC"; kidney cancer) in patients at intermediate risk of recurrence. To read the full news, click here.
  • Cebu Pacific Air, the Philippines' largest national flag carrier, and CAE (NYSE: CAE) today announced that they have signed a joint venture agreement to establish an aviation training center for airlines in the Asia Pacific region. To read the full news, click here.
  • International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), announced today that it has priced, and entered into an agreement to issue and sell, subject to certain conditions, $650,000,000 aggregate principal amount of 8.625% senior notes due 2022 pursuant to an effective registration statement filed on August 7, 2009 with the Securities and Exchange Commission. To read the full news, click here.
  • Google (NASDAQ: GOOG), Kohlberg Kravis Roberts (NYSE: KKR), and Recurrent Energy today announced an investment in a portfolio of solar photovoltaic facilities serving the Sacramento Municipal Utility District. To read the full news, click here.

Posted-In: Jefferies & Company US Stock FuturesNews Futures Global Pre-Market Outlook Markets


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