Market Overview

US Stock Futures Fall Ahead Of Federal Budget

US Stock Futures Fall Ahead Of Federal Budget
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Pre-open movers

US stock futures dropped in early pre-market trade, ahead of jobs data. The US Treasury monthly budget report for December will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 29 points to 16,352.00, while the Standard & Poor's 500 index futures dropped 5.20 points to 1,832.50. Futures for the Nasdaq 100 index fell 10.25 points to 3,551.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index surging 0.59%, London's FTSE 100 index dropping 0.03% and STOXX Europe 600 Index climbing 0.14%. German DAX 30 index rose 0.15% and French CAC 40 Index surged 0.10%. Italian industrial production climbed by 0.3% in November from October.

Asian markets ended mostly higher today. China's Shanghai Composite fell 0.19%, Hong Kong's Hang Seng Index climbed 0.19% and India's BSE Sensex rose 1.95%.

Broker Recommendation

Analysts at Morgan Stanley upgraded Autodesk (NASDAQ: ADSK) from “equal-weight” to “overweight.” The target price for Autodesk is set to $60.

Autodesk's shares closed at $51.47 on Friday.

Breaking news

  • Spherix (NASDAQ: SPEX) announced today a second settlement and license agreement under the CompuFill patents acquired in September 2013. To read the full news, click here.
  • JinkoSolar (NYSE: JKS) today announced that its Board of Directors has authorized the exploration of strategic alternatives with respect to JinkoSolar's downstream solar PV project business. To read the full news, click here.
  • AT&T (NYSE: T) today announced that the company will hire workers for 116 jobs in Kentucky, including 34 new jobs. To read the full news, click here.
  • Genzyme, a Sanofi company (NYSE: SNY), and Alnylam Pharmaceuticals (NASDAQ: ALNY) announced today that they have significantly expanded their strategic agreement to develop and commercialize treatments for rare genetic diseases. 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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