Market Overview

US Stock Futures Edge Higher Ahead Of GDP, Jobless Claims Data

US Stock Futures Edge Higher Ahead Of GDP, Jobless Claims Data
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Pre-open movers

US stock futures traded slightly higher in early pre-market trade. Data on Q1 GDP growth and weekly jobless claims will be released at 8:30 a.m. ET, while the pending home sales index for April will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 15 points to 16,643.00, while the Standard & Poor's 500 index futures rose 1.10 points to 1,910.20. Futures for the Nasdaq 100 index gained 2.75 points to 3,718.75.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index falling 0.29%, STOXX Europe 600 Index rising 0.04%. German DAX 30 index fell 0.01%, French CAC 40 Index slipped 0.09% and London's FTSE 100 Index gained 0.32%.

In Asian markets, Japan's Nikkei Stock Average jumped 0.07%, Hong Kong's Hang Seng Index fell 0.30%, China's Shanghai Composite Index declined 0.47% and India's BSE Sensex tumbled 1.31%.

Broker Recommendation

Analysts at Sterne Agee upgraded Dollar Tree (NASDAQ: DLTR) from “neutral” to “buy.” The target price for Dollar Tree has been raised from $54 to $61.

Dollar Tree's shares closed at $52.78 yesterday.

Breaking news

  • Apple (NASDAQ: AAPL) announced that it will be buying Beats Electronics and Beats Music for $3 billion, making it the largest acquisition in the company's history. To read the full news, click here.
  • IBM (NYSE: IBM) and SAP AG (NYSE: SAP) today announced plans for a global collaboration to provide tailored business applications and consulting services for the transportation and logistics industry. To read the full news, click here.
  • AMSURG (NASDAQ: AMSG) and Sheridan Healthcare, a portfolio company of Hellman & Friedman, LLC, today announced that their respective Boards of Directors have unanimously approved a definitive agreement under which AMSURG will acquire Sheridan Healthcare in a cash and stock transaction valued at approximately $2.35 billion. To read the full news, click here.
  • Costco Wholesale (NASDAQ: COST) reported a 3% gain in its fiscal third-quarter profit. Costco's quarterly earnings surged to $473 million, or $1.07 per share, versus a year-ago profit of $459 million, or $1.04 per share. To read the full news, click here.

Posted-In: Sterne Agee US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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