Market Overview

US Stock Futures Edge Higher Ahead Of Citigroup Earnings

US Stock Futures Edge Higher Ahead Of Citigroup Earnings

Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of earnings from Citigroup (NYSE: C). The NFIB Small Business Optimism Index for September will be released at 7:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 23 points to 16,255.00, while the Standard & Poor's 500 index futures rose 4.60 points to 1,870.20. Futures for the Nasdaq 100 index gained 8.75 points to 3,807.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.20%, STOXX Europe 600 Index dropping 0.95%. German DAX 30 index declined 0.72%, French CAC 40 Index fell 0.94% and London's FTSE 100 Index dropped 0.53%. French consumer prices declined 0.4% in September versus August, while current account deficit widened to 4.5 billion euros ($5.7 billion) in August versus EUR2.2 billion in July. Inflation in the UK declined to 1.2% in September, from 1.5% in August. Spanish consumer price index fell 0.2% y/y in September.

In Asian markets, Japan's Nikkei Stock Average tumbled 2.38%, Hong Kong's Hang Seng Index fell 0.41%, China's Shanghai Composite Index fell 0.28% and India's BSE Sensex dropped 0.13%.

Broker Recommendation
Analysts at Goldman Sachs downgraded Ford Motor Company (NYSE: F) from Buy to Neutral. The price target for Ford Motor has been lowered from $21 to $17.

Ford Motor's shares fell 0.89% to $13.42 in pre-market trading.

Breaking news

  • JPMorgan Chase & Co (NYSE: JPM) reported a profit in the third quarter. To read the full news, click here.
  • Kratos Defense & Security Solutions (NASDAQ: KTOS) announced today that its EWsT business unit in the Electronic Products Division has recently received a $4.2 million contract award to provide specialized simulation and test products in support of a radar program for a European customer. Kratos' Electronic Products Division is a leading provider of RF, Microwave, DRFM and other specialized products that support national security related platforms and programs. To read the full news, click here.
  • Sucampo Pharmaceuticals (NASDAQ: SCMP), a global biopharmaceutical company, today announced that it signed on October 9, 2014 an amendment to the existing collaboration and license agreement (Collaboration Agreement) covering the United States (U.S.) and Canada for AMITIZA® (lubiprostone) with Takeda Pharmaceutical Company Ltd. (Takeda). To read the full news, click here.
  • Sysco (NYSE: SYY) is in talks with the FTC in an attempt to save the company's $3.5 billion acquisition of US Foods, according to the NY Post. Sources say the FTC's Deborah Feinstein, the agency's Head of Competition, is not planning to block the deal. A decision is expected by the US regulatory agency by October 31.To read the full news, click here.

Posted-In: Goldman Sachs US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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