Market Overview

US Stock Futures Edge Higher; All Eyes On Fed

US Stock Futures Edge Higher; All Eyes On Fed
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Pre-open movers

US stock futures rose in early pre-market trade, ahead of the policy decision from the Federal Reserve. Data on housing starts for August will be released at 8:30 a.m. ET, while the Federal Open Market Committee will announce its policy decision and economic projections at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 13 points to 15,478.00, while the Standard & Poor's 500 index futures rose 1.90 points to 1,700.20. Futures for the Nasdaq 100 index gained 9 points to 3,193.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.51%, London's FTSE 100 index rising 0.17% and STOXX Europe 600 Index surging 0.47%. German DAX 30 index gained 0.50% and French CAC 40 Index rose 0.51%.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average surged 1.35%, while China's Shanghai Composite rose 0.29%. Australia's ASX/S&P500 dropped 0.28%, Hong Kong's Hang Seng Index declined 0.27% and India's Sensex jumped 0.8%.

Broker Recommendation

Analysts at Piper Jaffray upgraded Becton, Dickinson and Company (NYSE: BDX) from “neutral” to “overweight.” The target price for Becton, Dickinson and Company has been raised from $91 to $117.

Becton, Dickinson's shares closed at $100.80 yesterday.

Breaking news

  • AstraZeneca (NYSE: AZN) today announced that the US Food and Drug Administration (FDA) has accepted for review a New Drug Application (NDA) for EpanovaTM, an investigational compound for the treatment for patients with severe hypertriglyceridaemia (triglyceride levels greater than or equal to 500mg/dL). To read the full news, click here.
  • (NASDAQ: SOHU) announced today that its majority-owned search subsidiary Sogou, has paid to the holders of Series A Preferred Shares of Sogou a special dividend in the aggregate amount of $300,892,698. To read the full news, click here.
  • Visage Mobile, Inc., the SaaS enterprise mobility management (EMM) solution, today announced a strategic investment by Concur (NASDAQ: CNQR), the global leader in integrated travel and expense management, through the Concur Perfect Trip™ Fund. To read the full news, click here.
  • BlackBerry (NASDAQ: BBRY) today introduced the new BlackBerry(R) Z30 smartphone, BlackBerry's biggest, fastest and most advanced smartphone. Featuring BlackBerry(R) 10 OS version 10.2, the new all-touch BlackBerry Z30 smartphone comes with a beautiful 5" display and the largest battery yet on a BlackBerry smartphone. To read the full news, click here.

Posted-In: Piper Jaffray US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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