Market Overview

A Peek Into The Market Before The Trading Starts

A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning. Futures for the Dow Jones Industrial Average surged 16 points to 15,409.00 and S&P 500 index futures rose 1.30 points to 1,671.40. Nasdaq 100 futures declined 3.75 points to 3,058.75.

A Peek Into Global Markets European markets were higher today. The STOXX Europe 600 Index surged 0.44%, London's FTSE 100 index gained 0.48%, French CAC 40 Index climbed 0.27% and German DAX 30 index rose 0.88%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average gaining 0.23%, China's Shanghai Composite dropping 1.62% and Australia's ASX/S&P500 rising 0.21%. Hong Kong's Heng Seng Index declined 0.75% and India's Sensex rose 1.44%.

Broker Recommendation Analysts at Deutsche Bank downgraded Target (NYSE: TGT) from “buy” to “hold.” The target price for Target is set to $74.

Target's shares closed at $72.57 yesterday.

Breaking news

  • Merrimack Pharmaceuticals (NASDAQ: MACK) announced that it has priced concurrent public offerings of 5,000,000 shares of its common stock at a price to the public of $5.00 per share and $125,000,000 aggregate principal amount of its 4.50% convertible senior notes due 2020, in each case, offered pursuant to Merrimack's effective Registration Statement on Form S-3 (File No. 333-186369) and a related prospectus filed with the Securities and Exchange Commission. To read the full news, click here.
  • Tsinghua Unigroup, an operating subsidiary of Tsinghua Holdings Co, and Spreadtrum Communications (NASDAQ: SPRD) jointly announced that they have entered into a definitive merger agreement under which Tsinghua Unigroup will acquire all of the outstanding Ordinary Shares of Spreadtrum for US$31.00 per American Depositary Share (or US$10.33 per Ordinary Share, each American Depositary Share representing three Ordinary Shares). To read the full news, click here.
  • Philip Morris International (NYSE: PM) announced today that Philip Morris Investments B.V. (PM Investments), an affiliate of PMI, entered into a Funding and Cooperation Agreement with Mitsubishi Tanabe Pharma Corporation (MTPC), a Japanese pharmaceutical company, to privatize Medicago. To read the full news, click here.
  • GlaxoSmithKline and Theravance (NASDAQ: THRX) today announced that the licence application for the use of fluticasone furoate (FF) and vilanterol (VI) (proposed brand name RELVAR™ ELLIPTA™) in patients with chronic obstructive pulmonary disease (COPD) has been withdrawn from the current Japanese New Drug Application (JNDA). To read the full news, click here.

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Posted-In: Deutsche Bank US Stock FuturesNews Futures Global Pre-Market Outlook Markets