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Market Overview

US Stock Futures Up Ahead Of Bank of America Earnings

US Stock Futures Up Ahead Of Bank of America Earnings

Pre-open movers

US stock futures rose in early pre-market trade, ahead of earnings from Bank of America (NYSE: BAC). The producer price index for December and the Empire State manufacturing index for January will be released at 8:30 a.m. ET. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 36 points to 16,335.00, while the Standard & Poor's 500 index futures gained 3.50 points to 1,836.40. Futures for the Nasdaq 100 index rose 12.50 points to 3,586.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.32%, London's FTSE 100 index surging 0.33% and STOXX Europe 600 Index gaining 0.56%. German DAX 30 index jumped 1.02% and French CAC 40 Index climbed 0.59%. Germany's GDP rose 0.4% in 2013, versus a 0.7% growth in the earlier year. Euro-zone trade surplus widened to 17.1 billion euros ($23.41 billion) in November, from 12.5 billion euros in the year-ago period.

Asian markets ended higher today. Japan's Nikkei Stock Average surged 2.50%, China's Shanghai Composite gained 0.17%, Hong Kong's Hang Seng Index rose 0.49% and India's BSE Sensex jumped 1.22%.

Broker Recommendation

Analysts at Credit Suisse upgraded Dick's Sporting Goods (NYSE: DKS) from “neutral” to “outperform.” The target price for Dick's Sporting has been raised from $56 to $65.

Dick's shares closed at $55.25 yesterday.

Breaking news

  • VimpelCom (NASDAQ: VIP) and Opera Software today announced the extension of their partnership which will enable VimpelCom to deliver the best mobile internet customer experience to all its customers and to any device. To read the full news, click here.
  • Hanwha SolarOne (NASDAQ: HSOL) today announced it has signed a memorandum of understanding with Shanghai HuiTianRan Investment Holding Group Co., Ltd stating their intention to establish a long-term strategic partnership to cooperate in the PV downstream business, leveraging HTR's existing JV project company with a large state-owned electric power company. To read the full news, click here.
  • Elbit Systems (NASDAQ: ESLT) announced today that it was awarded a contract by the Israel Ministry of Defense, valued at approximately $15 million, to upgrade the Israeli Air Force's C-130H (Hercules) transport aircraft. To read the full news, click here.
  • For the 9th consecutive time, NBCUniversal (NASDAQ: CMCSA) has selected AT&T* (NYSE: T) to provide the networking services to support the delivery of its Olympics coverage across multiple devices during the 2014 Olympic Winter Games from Sochi, Russia, February 6-23, 2014. To read the full news, click here.

Related Articles (DKS + VIP)

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Posted-In: Credit Suisse US Stock FuturesNews Eurozone Futures Global Intraday Update Markets

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