Market Overview

US Stock Futures Rise; Jobless Claims Report In Focus

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US Stock Futures Rise; Jobless Claims Report In Focus
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Pre-open movers

US stock futures gained in early pre-market trade. Data on initial jobless claims will be released at 8:30 a.m. ET, while consumer credit data for June will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 33 points to 16,428.00, while the Standard & Poor's 500 index futures rose 5.10 points to 1,919.90. Futures for the Nasdaq 100 index climbed 6.25 points to 3,875.00.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.36%, STOXX Europe 600 Index declining 0.06%. German DAX 30 index rose 0.01%, French CAC 40 Index tumbled 0.31% and London's FTSE 100 Index dropped 0.13%.

In Asian markets, Japan's Nikkei Stock Average rose 0.48%, Hong Kong's Hang Seng Index dropped 0.80%, China's Shanghai Composite Index declined 1.34% and India's Sensex fell 0.30%.

Broker Recommendation
Analysts at Cowen & Company upgraded 21st Century Fox (NASDAQ: FOXA) from Underperform to Market Perform. The target price for 21st Century Fox has been raised from $29.00 to $35.00.

21st Century Fox's shares gained 4.30% to $33.72 in pre-market trading.

Breaking news

  • Mylan (NASDAQ: MYL) reported a 30% drop in its second-quarter earnings and narrowed its profit and revenue forecast for the full year. To read the full news, click here.
  • iDreamSky Technology (NASDAQ: DSKY) today announced that it has priced its initial public offering of 7,700,000 American depositary shares at US$15.00 per ADS, above the preliminary US$12.00 to US$14.00 price range, for a total offering size of approximately US$115.5 million, assuming the underwriters do not exercise their option to purchase additional ADSs. To read the full news, click here.
  • Auxilium Pharmaceuticals (NASDAQ: AUXL) reported a wider-than-expected loss for the second quarter. To read the full news, click here.
  • Bank of America (NYSE: BAC) and the Justice Department are near completion of a potential $17 billion deal to settle mortgage probes dating back to the financial crisis, according to The Wall Street Journal. To read the full news, click here.

Posted-In: Cowen & Company US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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