Market Overview

US Stock Futures Up; Retailers In Focus

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US Stock Futures Up; Retailers In Focus

Pre-open movers

US stock futures gained in early pre-market trade. Futures for the Dow Jones Industrial Average surged 40 points to 16,114.00, while the Standard & Poor's 500 index futures rose 3.20 points to 1,807.50. Futures for the Nasdaq 100 index gained 16 points to 3,484.50. The US stock markets will close early at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.45%, London's FTSE 100 index gaining 0.15% and STOXX Europe 600 Index rising 0.06%. German DAX 30 index rose 0.04% and French CAC 40 Index climbed 0.08%. German retail sales fell 0.8% in October versus September.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average dropped 0.41%, China's Shanghai Composite jumped 0.05%, Hong Kong's Hang Seng Index surged 0.39% and India's BSE Sensex gained 1.25%. Japanese industrial output increased 0.5% in October versus the prior month, while core CPI climbed 0.9% y/y in October.

Broker Recommendation

Analysts at Jefferies downgraded Renren (NYSE: RENN) from “hold” to “underperform.” The target price for Renren has been lowered from $3.30 to $2.90.

Renren shares closed at $3.35 on Wednesday.

Breaking news

  • Trina Solar (NYSE: TSL) today announced that it has entered into an agreement to establish a joint venture with Yabang Investment Holding Group Co to acquire certain production assets from Changzhou NESL Solartech Co, a subsidiary of Yabang Group, which specializes in the production of solar PV modules. To read the full news, click here.
  • Canadian Solar (NASDAQ: CSIQ) today announced that the Jiangsu Suzhou Intermediate Court issued a civil decision that vacated its decision in May 2013, which dismissed a request by LDK Solar Co (NYSE: LDK) to enforce an arbitration award in its ongoing dispute with Canadian Solar, and ruled that the case be re-adjudicated. To read the full news, click here.
  • Target (NYSE: TGT) today announced a very successful start to its Black Friday shopping weekend, with guests responding to deep discounts and a wide variety of the season's most popular offers. To read the full news, click here.
  • IntercontinentalExchange Group (NYSE: ICE) announced today that the European Securities and Markets Authority (ESMA) has approved ICE Trade Vault Europe Limited (ICE Trade Vault Europe) as a Trade Repository (TR) for the reporting of swaps and futures trade data to meet requirements of the European Market Infrastructure Regulation (EMIR). To read the full news, click here.

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

 

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