Market Overview

US Stock Futures Up; ADP Report, Fed Decision In Focus

US Stock Futures Up; ADP Report, Fed Decision In Focus
Related SNDK
Why The Recent Selloff In Silicon Motion May Have Been Overdone
Western Digital Ups Guidance On Strong Demand, Fundamental Execution
Related WILN
15 Biggest Mid-Day Losers For Tuesday
25 Stocks Moving In Tuesday's Pre-Market Session

Pre-open movers

US stock futures gained in early pre-market trade, ahead of the ADP jobs report. The ADP national employment report for October will be released at 8:15 a.m. ET, while the consumer price index for September will be released at 8:30 a.m. ET. The FOMC is scheduled to announce its policy decision at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 49 points to 15,665.00, while the Standard & Poor's 500 index futures gained 4.60 points to 1,772.00. Futures for the Nasdaq 100 index rose 14 points to 3,398.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.63%, London's FTSE 100 index rising 0.48% and STOXX Europe 600 Index climbing 0.55%. German DAX 30 index rose 0.40% and French CAC 40 Index climbed 0.50%. Germany jobless claims rose 2,000 in October from September.

Asian markets ended higher today. Japan's Nikkei Stock Average rose 1.23%, China's Shanghai Composite surged 1.48% and Hong Kong's Hang Seng Index jumped 2%. Australia's ASX/S&P500 rose 0.27% and India's Sensex jumped 0.50%. Japan's industrial production climbed by 1.5% in September.

Broker Recommendation

Analysts at Bank of America downgraded SanDisk (NASDAQ: SNDK) from “buy” to “neutral.” The target price for SanDisk is set to $75.

SanDisk's shares closed at $70.80 yesterday.

Breaking news

  • Wi-LAN (NASDAQ: WILN) today announced that its Board of Directors has initiated a process to explore and evaluate a broad range of strategic alternatives for the Company to enhance shareholder value. To read the full news, click here.
  • MannKind (NASDAQ: MNKD) today announced that the U.S. Food and Drug Administration (FDA) has acknowledged the resubmission of a New Drug Application (NDA) for AFREZZA® (insulin human [rDNA origin]) Inhalation Powder. To read the full news, click here.
  • lululemon athletica (NASDAQ: LULU) today announced that Tara Poseley has been appointed to its Senior Leadership Team as Chief Product Officer. To read the full news, click here.
  • Nice Systems (NASDAQ: NICE) reported a drop in its third-quarter profit. To read the full news, click here.

Posted-In: Bank of America FOMC US Stock FuturesNews Eurozone Futures Pre-Market Outlook Markets


Related Articles (LULU + MNKD)

View Comments and Join the Discussion!