Market Overview

US Stock Futures Flat; All Eyes On ADP Report

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US Stock Futures Flat; All Eyes On ADP Report

Pre-open movers

US stock futures traded mostly flat in early pre-market trade, ahead of economic data. The ADP national employment report for January will be released at 8:15 a.m. ET, while the ISM non-manufacturing index for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 3 points to 15,335.00, while the Standard & Poor's 500 index futures fell 1.50 points to 1,742.20. Futures for the Nasdaq 100 index slipped 3 points to 3,449.00.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.30%, London's FTSE 100 index gaining 0.29% and STOXX Europe 600 Index climbing 0.26%. German DAX 30 index fell 0.10% and French CAC 40 Index rose 0.11%. Euro-zone composite PMI surged to 52.9 in January versus 52.1 in December, while UK's services PMI declined to 58.3 in January versus 58.8 in December.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average surged 1.23%, Hong Kong's Hang Seng Index dipped 0.60% and India's BSE Sensex gained 0.24%.

Broker Recommendation

Analysts at Wunderlich downgraded Sirius XM Radio (NASDAQ: SIRI) from “buy” to “hold.” The price target for Sirius XM Radio has been lowered from $4.20 to $3.80.

Sirius XM's shares closed at $3.52 yesterday.

Breaking news

  • Nice Systems (NASDAQ: NICE) reported a rise in its fourth-quarter profit. Nice's quarterly earnings surged to $0.75 per share, up from $0.70 per share, in the year-ago period. To read the full news, click here.
  • Pfizer (NYSE: PFE) announced today that it has agreed with Merck (NYSE: MRK), known as MSD outside the United States and Canada, through two Merck subsidiaries, to explore the therapeutic potential of Merck's investigational anti-PD-1 therapy, MK-3475, in combination with two Pfizer oncology assets. To read the full news, click here.
  • Humana (NYSE: HUM) posted a loss in the fourth quarter. Humana swung to a quarterly loss of $0.19 per share, versus a year-ago profit of $1.19 per share. To read the full news, click here.
  • Time Warner (NYSE: TWX) reported a 12% drop in its fourth-quarter profit. Time Warner's quarterly profit fell to $983 million, or $1.06 per share, from a year-ago profit of $1.11 billion, or $1.15 per share. To read the full news, click here.

Posted-In: US Stock Futures WunderlichNews Eurozone Futures Global Pre-Market Outlook Markets

 

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