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US Stock Futures Up Ahead Of New-Home Sales Data

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US Stock Futures Up Ahead Of New-Home Sales Data

Pre-open movers

US stock futures gained in early pre-market trading, ahead of home sales data. Data on new home sales for January will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 29 points to 16,216.00, while the Standard & Poor's 500 index futures rose 3.70 points to 1,850.00. Futures for the Nasdaq 100 index gained 6.75 points to 3,695.25.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.24%, London's FTSE 100 index dropping 0.25% and STOXX Europe 600 Index declining 0.21%. German DAX 30 index fell 0.18% and French CAC 40 Index declined 0.41%. German consumer confidence surged to 8.5 points in March. UK GDP increased 0.7% q/q in the fourth quarter, unrevised versus a preliminary estimate.

Asian markets ended mostly higher today. Japan's Nikkei Stock Average declined 0.54%, Hong Kong's Hang Seng Index rose 0.53%, China's Shanghai Composite Index climbed 0.35% and India's BSE Sensex gained 0.65%.

Broker Recommendation

Analysts at Keefe Bruyette & Woods downgraded Toll Brothers (NYSE: TOL) from “outperform” to “market perform.” The price target for Toll Brothers has been raised from $40 to $42.

Toll Brothers shares closed at $38.25 yesterday.

Breaking news

  • Lowe's Companies (NYSE: LOW) reported a 6.3% gain in its fiscal fourth-quarter profit and announced an additional $5 billion stock buyback program. To read the full news, click here.
  • Royal Bank of Canada (NYSE: RY) reported a 2% rise in its first-quarter profit and lifted its dividend by 6%. To read the full news, click here.
  • Yandex (NASDAQ: YNDX) today announced that Yandex and Google (NASDAQ: GOOG) have entered into a mutually beneficial strategic partnership agreement in respect of online display advertising sales. To read the full news, click here.
  • Vodafone, (NASDAQ: VOD) has awarded Ericsson (NASDAQ: ERIC) with a 5 year agreement as part of its Project Spring organic investment programme initial phase. To read the full news, click here.

Posted-In: Keefe Bruyette & Woods US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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