US Stock Futures Rise Ahead Of Consumer Sentiment Data

Pre-open movers
US stock futures surged in early pre-market trade, ahead of economic data. Data on consumer spending and the Chicago Fed National Activity Index for November will be released at 8:30 a.m. ET. The Reuter's/University of Michigan's consumer sentiment index for December will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 53 points to 16,234.00, while the Standard & Poor's 500 index futures gained 7.90 points to 1,822.40. Futures for the Nasdaq 100 index rose 26 points to 3,558.25.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index dropping 0.09%, London's FTSE 100 index gaining 0.50% and STOXX Europe 600 Index surging 0.33%. German DAX 30 index climbed 0.54% and French CAC 40 Index declined 0.10%. Italian consumer confidence index dropped to 96.2 in December, versus 98.2 in November. Asian markets ended higher today. China's Shanghai Composite gained 0.24%, Hong Kong's Hang Seng Index rose 0.48% and India's BSE Sensex jumped 0.1%.
Broker Recommendation
Analysts at Bank of America downgraded Micron Technology
MU
from “neutral” to “underperform.” The target price for Micron Technology has been lowered from $20.50 to $19.50. Micron's shares closed at $22.17 on Friday.
Breaking news
  • Engility Holdings EGL and Dynamics Research DRCO, today announced that they have entered into a definitive agreement under which Engility will acquire DRC. To read the full news, click here.
  • Canadian Solar CSIQ and PSEG PEG today announced that Canadian Solar's subsidiary, CSI Holdco LLC sold two utility-scale solar power plants totaling 4.4 MW DC (3 MW AC) to PSEG subsidiary, PSEG Solar Source. To read the full news, click here.
  • Clovis Oncology CLVS announced today that an abstract discussing the findings of the ongoing Phase I portion of the Phase I/II clinical study of CO-1686 has been accepted for Proffered Paper (Oral) presentation during the 4th European Lung Cancer Conference (ELCC). To read the full news, click here.
  • CombiMatrix CBMX today announced that it has entered into a contractual agreement for coverage of its diagnostic laboratory services with FedMed, a national provider network and healthcare financial services organization. To read the full news, click here.

Posted In: Bank of AmericaUS Stock FuturesNewsEurozoneFuturesGlobalPre-Market OutlookMarkets