US Stock Futures Up Ahead Of Earnings
US stock futures gained in early pre-market trade, ahead of earnings from some major companies. The NAHB housing market index for October will be released at 10:00 a.m. ET. The Federal Reserve will release its Beige Book at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 64 points to 15,159.00, while the Standard & Poor's 500 index futures rose 7 points to 1,699.00. Futures for the Nasdaq 100 index gained 6.75 points to 3,247.50.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.28%, London's FTSE 100 index dropping 0.62% and STOXX Europe 600 Index declining 0.51%. German DAX 30 index fell 0.21% and French CAC 40 Index declined 0.88%. UK's unemployment rate came in unchanged at 7.7% in the three months to August. However, economists were expecting the rate to decline to 7.6%.
Asian markets ended mixed today. Japan's Nikkei Stock Average gained 0.18%, China's Shanghai Composite fell 1.81% and Hong Kong's Hang Seng Index declined 0.46%. Australia's ASX/S&P500 surged 0.10%.
Analysts at Morgan Stanley upgraded VimpelCom (NYSE: VIP) from “equal-weight” to “overweight.” The target price for VimpelCom has been raised from $12 to $14.50.
VimpelCom's shares closed at $12.37 yesterday.
- Bank of New York Mellon (NYSE: BK) reported a 35% rise in its third-quarter net income. To read the full news, click here.
- Advance Auto Parts (NYSE: AAP) announced today that it has entered into a definitive agreement to acquire General Parts International (GPII) in an all-cash transaction with an enterprise value of $2.04 billion. To read the full news, click here.
- Mattel (NASDAQ: MAT) reported a 16% gain in its third-quarter net income. Mattel's quarterly net income surged to $442.8 million, or $1.21 per share, from $365.9 million, or $1.04 per share, in the year-earlier period. To read the full news, click here.
- FedEx (NYSE: FDX) today announced that its Board of Directors has authorized a new share repurchase program of up to 32 million of its outstanding shares of common stock. To read the full news, click here.
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