A Peek Into The Market Before The Trading Starts - AvalonBay Communities (NYSE:AVB)

Pre-open movers

US stock futures are higher this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average surged 71 points to 13,028.00 and S&P 500 index futures rose 8.10 points to 1,415.20. Nasdaq 100 futures gained 18.25 points to 2,678.75.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index rose 0.78%, London's FTSE 100 Index gained 0.89%, French CAC 40 Index surged 0.91% and German DAX 30 index rose 0.78%. Asian markets ended mostly higher, with Japan's Nikkei Stock Average rising 0.99%, China's Shanghai Composite dropping 0.51% and Australia's S&P/ASX 200 gaining 0.62%. Hong Kong's Hang Seng Index climbed 0.99% and India's Sensex jumped 1.75%.

Broker Recommendation

Analysts at Goldman Sachs upgraded Research In Motion Limited

RIMM

from “neutral” to “buy.” The target price for Research In Motion has been raised from $9 to $16. Research In Motion shares gained 6.31% to $11.80 in pre-market trading.

Breaking news

AvalonBay Communities AVB announced Wednesday the pricing of a public offering of 14,500,000 shares of common stock at $130.00. To read the full news, click here.
Research In Motion RIMM today announced updates to its developer ecosystem programs, including BlackBerry(R) Dev Alpha test devices, the 10k developer commitment, updated tools and more. To read the full news, click here.
Pramerica Fosun Life Insurance Company Ltd. (PFL), a 50/50 joint venture between Fosun International Limited and Prudential Financial PRU marked the start of its operations with a grand opening ceremony in Shanghai today. To read the full news, click here.
Steinway & Sons, a subsidiary of Steinway Musical Instruments LVB, today announced that it has been informed by the Antitrust Commission of the Swiss Confederation (WEKO) that WEKO has initiated an investigation into Swiss dealers of Steinway & Sons and into Steinway & Sons Hamburg due to alleged violations of unfair competitive behavior in the distribution of grand and upright pianos. To read the full news, click here.

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