Market Overview

US Stock Futures Up Ahead Of GDP, Jobless Claims

US Stock Futures Up Ahead Of GDP, Jobless Claims
Related AMAP
Vodafone Records Lower Revenues despite Growth in Europe
Vodafone Earnings Decline in FY2014 - Analyst Blog
Related CM
Earnings Scheduled For May 25, 2017
Benzinga's Top Upgrades, Downgrades For March 31, 2017

Pre-open movers

US stock futures gained in early pre-market trade, ahead of economic data. Data on GDP growth for the second quarter and weekly jobless claims will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 20 points to 14,826.00, while the Standard & Poor's 500 index futures rose 2.40 points to 1,634.60. Futures for the Nasdaq 100 index gained 9 points to 3,077.25.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index dropping 0.02%, London's FTSE 100 index rising 0.55% and STOXX Europe 600 Index gaining 0.43%. German DAX 30 index rose 0.13% and French CAC 40 Index surged 0.36%. German jobless claims increased by 7,000 on the month in August. However, economists were expecting a fall of 5,000.

Asian markets ended mostly higher today. Japan's retail sales dropped 0.3% y/y in July. China's Shanghai Composite fell 0.19%, while Japan's Nikkei Stock Average climbed 0.91%. Australia's ASX/S&P500 gained 0.10%, Hong Kong's Hang Seng Index surged 0.84% and India's Sensex jumped 2.25%.

Broker Recommendation

Analysts at Deutsche Bank downgraded AutoNavi Holdings (NASDAQ: AMAP) from “buy” to “hold.” The target price for AutoNavi Holdings has been lowered from $15.10 to $11.90.

AutoNavi's shares closed at $12.54 yesterday.

Breaking news

  • CIBC (NYSE: CM) today announced that it intends to commence a new normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). To read the full news, click here.
  • JA Solar Holdings Co (NASDAQ: JASO) reported a narrower loss in the second quarter. JA Solar posted a quarterly net loss of $21.6 million, or $0.58 per American depositary share (ADS), versus a year-ago profit of $72.1 million, or $1.91 per ADS. To read the full news, click here.
  • Alvarion (NASDAQ: ALVR) announced today that Mr. Yoav Kfir, the court-appointed Receiver, submitted an urgent motion to the District Court of Tel Aviv – Yaffo requesting the Court to approve a revised proposal from Valley Telecom Ltd. to acquire the Company and its assets. To read the full news, click here.
  • Royal Bank of Canada (NYSE: RY) reported a rise in its third-quarter profit. The bank lifted its quarterly dividend by 6% to 67 Canadian cents per share. To read the full news, click here.

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


Related Articles (ALVR + AMAP)

View Comments and Join the Discussion!