US Stock Futures Flat Ahead Of Jobless Claims

Pre-open movers

US stock futures traded mostly flat in early pre-market trade, ahead of jobless claims data. Data on initial jobless claims will be released at 8:30 a.m. ET. The general conditions index of the Philadelphia Fed's Survey for June and the Conference Board's index of leading indicators for May will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 1 point to 16,819.00, while the Standard & Poor's 500 index futures fell 0.10 points to 1,949.00. Futures for the Nasdaq 100 index gained 2.75 points to 3,798.50.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.96%, STOXX Europe 600 Index gaining 0.72%. German DAX 30 index rose 0.82%, French CAC 40 Index surged 0.87% and London's FTSE 100 Index gained 0.82%. In Asian markets, Japan's Nikkei Stock Average rose 1.62%, Hong Kong's Hang Seng Index dropped 0.06%, China's Shanghai Composite Index tumbled 1.55% and India's BSE Sensex tumbled 0.18%.

Broker Recommendation

Analysts at RBC Capital upgraded FedEx

FDX

from “underperform” to “sector perform.” The target price for FedEx has been raised from $125 to $155. FedEx's shares closed at $148.95 yesterday.

Breaking news

Revance Therapeutics RVNC announced Wednesday, the pricing of its underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $30.50 per share pursuant to a registration statement filed with the Securities and Exchange Commission (SEC). To read the full news, click here.
BIND Therapeutics BIND today announced that it has entered into a research agreement with Roche RHHBY to discover novel nanomedicines using Accurins for the treatment of diseases in therapeutic areas outside of oncology. To read the full news, click here.
Shares of BlackBerry BBRY jumped more than 11% in pre-market trading after the company released fiscal first-quarter results. To read the full news, click here.
Pier 1 Imports PIR reported a drop in its fiscal first-quarter profit and lowered its forecast. Pier 1's same-store sales climbed 6.3% in the quarter, while gross margin shrank to 40% from 42.4%. To read the full news, click here.

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