Market Overview

US Stock Futures Edge Lower; Goldman Sachs, Citigroup Earnings In Focus

US Stock Futures Edge Lower; Goldman Sachs, Citigroup Earnings In Focus

Pre-open movers

US stock futures fell in early pre-market trade, ahead of earnings from Goldman Sachs Group (NYSE: GS) and Citigroup (NYSE: C). The consumer price index for December and weekly jobless claims data will be released at 8:30 a.m. ET. The general conditions index of the Philadelphia Fed's Survey and the NAHB housing market index for January will be released at 10:00 a.m. E.T. Futures for the Dow Jones Industrial Average dropped 13 points to 16,395.00, while the Standard & Poor's 500 index futures fell 2.30 points to 1,839.30. Futures for the Nasdaq 100 index declined 0.25 points to 3,598.00.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.29%, London's FTSE 100 index surging 0.05% and STOXX Europe 600 Index declining 0.12%. German DAX 30 index fell 0.16% and French CAC 40 Index declined 0.18%. Euro-zone consumer prices climbed 0.3% in December from November.

Asian markets ended higher today. Japan's Nikkei Stock Average dropped 0.39%, China's Shanghai Composite gained 0.02%, Hong Kong's Hang Seng Index rose 0.37% and India's BSE Sensex fell 0.11%. Japan's core machinery orders climbed 9.3% in November versus the prior month.

Broker Recommendation

Analysts at Bank of America upgraded Hewlett-Packard Company (NYSE: HPQ) from “neutral” to “buy.”

Hewlett-Packard's shares rose 2.39% to $29.54 in pre-market trading.

Breaking news

  • UnitedHealth Group (NYSE: UNH) reported an 18% rise in its fourth-quarter earnings. UnitedHealth's quarterly profit surged to $1.43 billion, or $1.41 per share. To read the full news, click here.
  • JinkoSolar (NYSE: JKS) today announced that it priced the offering of 3,750,000 American Depositary Shares, each representing four ordinary shares of the Company, par value US$0.00002 per share, at US$35.25 per ADS. To read the full news, click here.
  • BlackRock (NYSE: BLK) reported a 22% gain in its fourth-quarter net income. To read the full news, click here.
  • An affiliate of Apollo Global Management, LLC (NYSE: APO) and CEC Entertainment (NYSE: CEC) today announced that they have entered into a definitive merger agreement whereby Apollo, a leading global alternative investment manager, will acquire CEC, the nationally recognized leader in family dining and entertainment which operates 577 Chuck E. Cheese's stores, for approximately $1.3 billion, including the assumption of the Company's outstanding debt. To read the full news, click here.

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Posted-In: Bank of America US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets