Market Overview

US Stock Futures Slip Ahead Of Economic Data

US Stock Futures Slip Ahead Of Economic Data

Pre-open movers

US stock futures fell in early pre-market trading, ahead of economic data. The FHFA house price index for December and the S&P/Case-Shiller home price index for November will be released at 9:00 a.m. ET. The Conference Board's consumer confidence index, The Richmond Fed manufacturing index and the State Street Investor Confidence Index for February will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 17 points to 16,169.00, while the Standard & Poor's 500 index futures fell 3.30 points to 1,842.60. Futures for the Nasdaq 100 index dropped 6 points to 3,682.00.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.06%, London's FTSE 100 index dropping 0.73% and STOXX Europe 600 Index declining 0.42%. German DAX 30 index fell 0.48% and French CAC 40 Index declined 0.53%.

Asian markets ended mixed today. Japan's Nikkei Stock Average jumped 1.44%, Hong Kong's Hang Seng Index fell 0.32%, China's Shanghai Composite Index declined 2.04% and India's BSE Sensex gained 0.2%.

Broker Recommendation

Analysts at Bank of America downgraded VIVUS (NASDAQ: VVUS) from “neutral” to “underperform.” The price target for VIVUS has been lowered from $11 to $6.

VIVUS shares closed at $6.75 yesterday.

Breaking news

  • Home Depot (NYSE: HD) reported a better-than-expected fourth-quarter profit and raised its quarterly dividend by 21%. To read the full news, click here.
  • Office Depot (NYSE: ODP) reported a fourth-quarter loss. Office Depot posted a quarterly loss of $120 million, or $0.34 per share, versus a year-ago loss of $7 million, or $0.06 per share. To read the full news, click here.
  • Tangoe, (NASDAQ: TNGO) has signed a strategic partnership agreement with Samsung (OTC: SSNLF) to provide Samsung KNOX™ mobile security solution to Tangoe's global enterprise customers supporting Samsung mobile devices. To read the full news, click here.
  • Toll Brothers (NYSE: TOL) reported a gain in its fiscal first-quarter profit. Toll Brothers posted its quarterly income of $45.6 million, or $0.25 per share, versus $4.4 million, or $0.03 per share, in the year-ago quarter. To read the full news, click here.

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


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