Market Overview

US Stock Futures Signal Higher Start On Wall Street

US Stock Futures Signal Higher Start On Wall Street
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Pre-open movers

US stock futures traded higher in early pre-market trade. The Conference Board's index of leading indicators for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 70 points to 17,248.00, while the Standard & Poor's 500 index futures rose 6.50 points to 2,011.10. Futures for the Nasdaq 100 index climbed 15.25 points to 4,111.75.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.64%, STOXX Europe 600 Index gaining 0.59%. German DAX 30 index rose 0.64%, French CAC 40 Index surged 0.10% and London's FTSE 100 Index gained 0.65%.

In Asian markets, Japan's Nikkei Stock Average jumped 1.58%, Hong Kong's Hang Seng Index rose 0.57%, China's Shanghai Composite Index gained 0.58% and India's BSE Sensex fell 0.08%.

Broker Recommendation
Analysts at Deutsche Bank downgraded Oracle (NYSE: ORCL) from Buy to Hold. The target price for Oracle has been lowered from $48 to $42.

Oracle's shares fell 2.91% to $40.34 in pre-market trading.

Breaking news

  • Alibaba Group Holding (NYSE: BABA) today announced the pricing of its initial public offering of 320,106,100 American depositary shares, each representing one of its ordinary shares, at a price to the public of US$68 per ADS for a total offering size of approximately US$21.77 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. To read the full news, click here.
  • Gilead Sciences (NASDAQ: GILD) today announced that the European Commission has granted marketing authorization for Zydelig® (idelalisib), 150 mg tablets, a first-in-class oral treatment for two incurable blood cancers - chronic lymphocytic leukemia (CLL) and follicular lymphoma (FL). To read the full news, click here.
  • Oracle (NYSE: ORCL) missed fiscal first-quarter expectations Thursday and unexpectedly shuffled its top management. To read the full news, click here.
  • Penn National Gaming (NASDAQ: PENN) announced today that its Board of Directors has, subject to customary regulatory approvals, appointed the Company's Chief Executive Officer, Timothy J. Wilmott, to the Board effective immediately. To read the full news, click here.

Posted-In: Deutsche Bank US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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Deutsche Bank Downgrades Oracle To Hold