Market Overview

US Stock Futures Rise; All Eyes On Jobs Report

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US Stock Futures Rise; All Eyes On Jobs Report
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Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of jobs data. Data on nonfarm payroll employment for May will be released at 8:30 a.m. ET, while consumer credit data for April will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 30 points to 16,848.00, while the Standard & Poor's 500 index futures rose 2 points to 1,940.50. Futures for the Nasdaq 100 index gained 5.50 points to 3,781.75.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.14%, STOXX Europe 600 Index gaining 0.39%. German DAX 30 index rose 0.29%, French CAC 40 Index jumped 0.35% and London's FTSE 100 Index gained 0.35%. French budget deficit narrowed to EUR64.2 billion in the January to April period, versus EUR66.8 billion in the first four months of 2013. Germany's central bank raised its 2014 growth outlook for the economy to 1.9%, versus a prior forecast of 1.7% in December. German exports rose 3.0% on the month in April, while imports increased 0.1%.

In Asian markets, Japan's Nikkei Stock Average rose 2.17%, Hong Kong's Hang Seng Index fell 0.69%, China's Shanghai Composite Index declined 0.54% and India's BSE Sensex jumped 1.51%.

Broker Recommendation

Analysts at Stifel Nicolaus upgraded Humana (NYSE: HUM) from “hold” to “buy.” The target price for Humana is set to $155.

Humana's shares closed at $124.35 yesterday.

Breaking news

  • The Men's Wearhouse (NYSE: MW) today announced that its Board of Directors has amended and restated the Company's bylaws to modify the voting standard required for shareholders to amend the Company's bylaws from 66-2/3% to a majority of Men's Wearhouse's outstanding voting stock. To read the full news, click here.
  • Arista Networks (NYSE: ANET) today announced the pricing of its initial public offering of 5,250,000 shares of its common stock at a price to the public of $43.00 per share. To read the full news, click here.
  • GW Pharmaceuticals (NASDAQ: GWPH) today announced that the United States Food and Drug Administration (FDA) has granted Fast Track designation to GW's investigational cannabidiol (CBD) product, Epidiolex®, in the treatment of Dravet syndrome, a rare and catastrophic treatment-resistant form of childhood epilepsy. To read the full news, click here.
  • Patterson-UTI Energy (NASDAQ: PTEN) today announced that one of its subsidiaries has entered into an agreement to acquire the East Texas-based pressure pumping operations of a privately held company. 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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