Market Overview

US Stock Futures Flat Ahead Of Durable-Goods Data

US Stock Futures Flat Ahead Of Durable-Goods Data

Pre-open movers

US stock futures were mostly flat in early pre-market trade, ahead of economic data. Data on durable goods orders for September will be released at 8:30 a.m. ET, while the Reuter's/University of Michigan's consumer sentiment index for October will be released at 9:55 a.m. ET. Data on wholesale inventories for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average fell 1 point to 15,453.00, while the Standard & Poor's 500 index futures declined 1.10 points to 1,747.40. Futures for the Nasdaq 100 index gained 5.75 points to 3,376.75.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.65%, London's FTSE 100 index rising 0.13% and STOXX Europe 600 Index declining 0.10%. German DAX 30 index fell 0.03% and French CAC 40 Index declined 0.13%.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average tumbled 2.75%, China's Shanghai Composite fell 1.45% and Hong Kong's Hang Seng Index declined 0.60%. Australia's ASX/S&P500 rose 0.22% and India's Sensex declined 0.20%. Japan's core consumer price index increased 0.7% y/y in September, versus a 0.8% rise in August. The consumer price index rose 0.1% on a monthly basis.

Broker Recommendation

Analysts at JP Morgan downgraded United Continental Holdings (NYSE: UAL) from “neutral” to “underweight.” The target price for United Continental Holdings has been lowered from $32.50 to $25.

United Continental's shares fell 1.76% to $30.75 in pre-market trading.

Breaking news

  • Weyerhaeuser Co (NYSE: WY) reported a 34% rise in its third-quarter profit. Weyerhaeuser's quarterly profit surged to $157 million, or $0.27 per share, from $117 million, or $0.22 per share, in the year-ago period. To read the full news, click here.
  • Sorrento Therapeutics (NASDAQ: SRNE) announced the pricing of an underwritten public offering of 4,150,000 shares of common stock at an offering price of $7.25 per share. To read the full news, click here.
  • Live Nation Entertainment (NYSE: LYV) has acquired Voodoo Music & Arts Experience, New Orleans' critically-acclaimed music festival. To read the full news, click here.
  • B/E Aerospace (NASDAQ: BEAV) today announced that its Board of Directors has appointed Werner Lieberherr, who is currently President and Chief Operating Officer of B/E Aerospace, Inc., as co-Chief Executive Officer of B/E Aerospace, Inc. effective as of January 1, 2014. To read the full news, click here.

Posted-In: JP Morgan US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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