Market Overview

US Stock Futures Up Ahead Of Factory Orders Data

US Stock Futures Up Ahead Of Factory Orders Data
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Pre-open movers

US stock futures gained in early pre-market trade, ahead of economic data. Data on factory orders for November and the ISM non-manufacturing composite index for December will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 25 points to 16,432.00, while the Standard & Poor's 500 index futures gained 2.30 points to 1,827.80. Futures for the Nasdaq 100 index rose 2 points to 3,533.50.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 0.68%, London's FTSE 100 index dropping 0.07% and STOXX Europe 600 Index declining 0.11%. German DAX 30 index surged 0.15% and French CAC 40 Index climbed 0.09%. UK services PMI declined to 58.8 in December, versus November's reading of 60.0.

Asian markets ended lower today. Japan's Nikkei Stock Average tumbled 2.35%, China's Shanghai Composite dropped 1.80%, Hong Kong's Hang Seng Index declined 0.58% and India's BSE Sensex fell 0.31%.

Broker Recommendation

Analysts at Morgan Stanley downgraded Twitter (NYSE: TWTR) from “equal-weight” to “underweight.” The target price for Twitter is set to $33.

Twitter's shares fell 3.70% to $66.45 in pre-market trading.

Breaking news

  • Aratana Therapeutics (NASDAQ: PETX) today announced that it has acquired Okapi Sciences NV, a Belgium-based company with a proprietary pet therapeutics antiviral platform and five clinical/development stage candidates for treating important viral diseases. To read the full news, click here.
  • Samsung Electronics (OTC: SSNLF) and Rambus (NASDAQ: RMBS) today announced the companies have signed a comprehensive 10-year license agreement. To read the full news, click here.
  • XPO Logistics (NYSE: XPO) and Pacer International (NASDAQ: PACR) today announced that they have entered into a definitive agreement for XPO Logistics to acquire Pacer, the third largest provider of intermodal transportation services in North America. To read the full news, click here.
  • Radware (NASDAQ: RDWR) today raised its guidance for the fourth quarter of 2013. The company anticipates quarterly revenues to be at a record level of approximately $53 million, higher than the previous guidance of $49.5 million to $51.0 million. To read the full news, click here.

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


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