Market Overview

US Stock Futures Edge Higher Ahead Of Industrial Production, Consumer Sentiment Data

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US Stock Futures Edge Higher Ahead Of Industrial Production, Consumer Sentiment Data

Pre-open movers

US stock futures rose in early pre-market trade, ahead of economic data. Data on import and export prices for January will be released at 8:30 a.m. ET, while industrial production data for December will be released at 9:15 a.m. ET. The Reuters/University of Michigan's consumer sentiment index for February will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 18 points to 15,997.00, while the Standard & Poor's 500 index futures rose 1.80 points to 1,826.10. Futures for the Nasdaq 100 index gained 7 points to 3,658.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.45%, London's FTSE 100 index gaining 0.01% and STOXX Europe 600 Index climbing 0.36%. German DAX 30 index rose 0.52% and French CAC 40 Index surged 0.47%. French GDP surged 0.3% in the fourth quarter, while Germany's GDP rose 0.4% in the quarter. Euro-zone gross domestic product rose at an annualized rate of 1.1% in the fourth quarter.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average tumbled 1.53%, Hong Kong's Hang Seng Index rose 0.60%, China's Shanghai Composite Index surged 0.83% and India's BSE Sensex jumped 0.86%. China's consumer price index climbed 2.5% y/y in January.

Broker Recommendation

Analysts at Stifel Nicolaus upgraded Itron (NASDAQ: ITRI) from “sell” to “hold.”

Itron's shares closed at $33.64 yesterday.

Breaking news

  • Occidental Petroleum (NYSE: OXY) today announced the next phase of its strategic review. The Board of Directors has authorized the separation of Occidental's California assets into an independent and separately traded company. To read the full news, click here.
  • Jos. A. Bank Clothiers, Inc. (NASDAQ: JOSB) and Golden Gate Capital today announced that Jos. A. Bank has entered into a definitive agreement with Everest Topco LLC, a portfolio company of Golden Gate, under which Jos. A. Bank will acquire Everest Holdings LLC, parent company of the Eddie Bauer brand. To read the full news, click here.
  • Coty (NYSE: COTY) today announced that its Board of Directors has authorized the company to repurchase up to $200 million of its Class A common stock. To read the full news, click here.
  • VF Corp (NYSE: VFC) reported a 10% gain in its fourth-quarter profit. VF Corp's quarterly profit surged to $367.7 million, or $0.82 per share, versus a year-ago profit of $334.2 billion, or $0.75 per share. Its adjusted profit came in at $0.82 per share. To read the full news, click here.

Posted-In: Stifel Nicolaus US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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