Market Overview

US Stock Futures Gain Ahead Of Consumer Data

US Stock Futures Gain Ahead Of Consumer Data
Related AGCO
Earnings Scheduled For October 31, 2017
Bank Of America Advises Selling AGCO Shares
Related NCTY
16 Biggest Mid-Day Gainers For Tuesday
Earnings Scheduled For December 28, 2016

Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of economic data. Data on consumer spending for July will be released at 8:30 a.m. ET, while the Chicago PMI for July will be released at 9:45 a.m. ET. The Reuter's/University of Michigan's consumer sentiment index for August will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average surged 40 points to 17,117.00, while the Standard & Poor's 500 index futures rose 5.40 points to 2,002.10. Futures for the Nasdaq 100 index gained 11.25 points to 4,081.00.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.07%, STOXX Europe 600 Index gaining 0.16%. German DAX 30 index climbed 0.23%, French CAC 40 Index rose 0.22% and London's FTSE 100 Index gained 0.16%. Inflation in the euro zone dropped to 0.3% in August, versus 0.4% in July.

In Asian markets, Japan's Nikkei Stock Average fell 0.23%, Hong Kong's Hang Seng Index rose 1.06 points and China's Shanghai Composite Index jumped 0.97%. Japan's industrial output gained 0.2% in July, while retail sales rose 0.5% y/y in the month. The country's the jobless rate also increased to 3.8% in July.

Broker Recommendation
Analysts at JP Morgan upgraded AGCO (NYSE: AGCO) from Underperform to Neutral. The target price for AGCO has been raised from $50 to $51.

AGCO's shares closed at $48.23 yesterday.

Breaking news

  • The9 Limited (NASDAQ: NCTY) Red 5 Singapore Pte., a subsidiary of The9, has entered into a license agreement with System Link Limited for publishing and operating Firefall® for a five-year term in mainland China. To read the full news, click here.
  • Albemarle (NYSE: ALB) and ICL announced today that the two companies have entered into an agreement to establish a manufacturing joint venture for the production of ICL's FR-122P polymeric flame retardant and Albemarle's GreenCrest™ polymeric flame retardant. To read the full news, click here.
  • Big Lots (NYSE: BIG) reported better-than-expected fiscal second-quarter earnings and raised its FY14 earnings forecast. To read the full news, click here.
  • BioCryst Pharmaceuticals (NASDAQ: BCRX) today announced that the National Institute of Allergy and Infectious Diseases (NIAID) has awarded a contract modification for an additional $2.4 million to BioCryst to conduct a dose ranging efficacy study of an intramuscular formulation of BCX4430 in non-human primates as a treatment for Ebola virus disease. To read the full news, click here.

Posted-In: JP Morgan US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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