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US Stock Futures Edge Lower Ahead Of ADP Report, FOMC Minutes

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US Stock Futures Edge Lower Ahead Of ADP Report, FOMC Minutes
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Pre-open movers

US stock futures traded slightly lower in early pre-market trade. The ADP national employment report for December will be released at 8:30 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET, while consumer credit data for November will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 11 points to 16,443.00, while the Standard & Poor's 500 index futures dropped 1.40 points to 1,829.30. Futures for the Nasdaq 100 index fell 2 points to 3,546.75.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.17%, London's FTSE 100 index dropping 0.40% and STOXX Europe 600 Index declining 0.07%. German DAX 30 index fell 0.15% and French CAC 40 Index declined 0.16%. Euro-zone retail sales climbed by 1.4% in November versus October.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average surged 1.94%, China's Shanghai Composite fell 0.15%, Hong Kong's Hang Seng Index gained 1.25% and India's BSE Sensex rose 0.17%.

Broker Recommendation

Analysts at Morgan Stanley upgraded Valeant Pharmaceuticals International (NYSE: VRX) from “equal-weight” to “overweight.” The target price for Valeant Pharmaceuticals is set to $145.

Valeant's shares surged 11.30% to close at $125.35 yesterday.

Breaking news

  • Revionics announced today that Tractor Supply Company (NASDAQ: TSCO) is renewing its Revionics Price Optimization license for three years and expanding the partnership to include the use of Revionics Markdown Optimization. To read the full news, click here.
  • CAE (NYSE: CAE) today announced that it has won contracts valued at more than C$110 million, not including options, to provide a range of training systems and services for defence customers. To read the full news, click here.
  • Pluristem Therapeutics (NASDAQ: PSTI) today announced it has been granted a new patent in Australia. To read the full news, click here.
  • Cellular Dynamics (NASDAQ: ICEL) today announced signing a long-term supply agreement with the Nestlé Institute of Health Sciences SA (NIHS). To read the full news, click here.

Posted-In: Federal Open Market Committee Morgan StanleyNews Eurozone Futures Global Pre-Market Outlook Markets

 

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