US Stock Futures Edge Higher Ahead Of GDP, Housing Data - Novartis (NYSE:NVS)

Pre-open movers

US stock futures traded higher in early pre-market trade. Data on GDP growth for the third quarter for October will be released at 8:30 a.m. ET, while the FHFA house price index and the S&P/Case-Shiller home price index for September will be released at 9:00 a.m. ET. The Conference Board's consumer confidence index for November and the Richmond Fed manufacturing index for November will be released at 10:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 18 points to 17,810.00, while the Standard & Poor's 500 index futures rose 1.90 points to 2,069.40. Futures for the Nasdaq 100 index climbed 8.25 points to 4,290.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.17%, STOXX Europe 600 Index gaining 0.47%. German DAX 30 index climbed 1.11%, French CAC 40 Index jumped 0.64% and London's FTSE 100 Index gained 0.15%. In Asian markets, Japan's Nikkei Stock Average rose 0.29%, Hong Kong's Hang Seng Index fell 0.21%, China's Shanghai Composite Index rose 1.37% and India's Sensex slipped 0.57%.

Broker Recommendation

Analysts at JP Morgan upgraded The TJX Companies

TJX

from Neutral to Overweight. The price target for TJX has been raised from $63 to $75. TJX' shares closed at $63.51 yesterday.

Breaking news

Shares of Tiffany & Co TIF slipped fell 2% in pre-market trading after the company reported weaker-than-expected fiscal third-quarter results and cut its sales forecast. To read the full news, click here.
Alexion Pharmaceuticals ALXN today announced that Soliris® (eculizumab) has been granted orphan drug designation (ODD) by Japan's Ministry of Health, Labour and Welfare (MHLW) for the treatment of patients with neuromyelitis optica (NMO), a life-threatening, ultra-rare neurologic disorder. To read the full news, click here.
Novartis NVS announced today that the US Food and Drug Administration (FDA) has extended their priority review period by up to three months for the new drug application (NDA) of LBH589 (panobinostat) in combination with bortezomib* and dexamethasone for patients with previously treated multiple myeloma. To read the full news, click here.
Yingli Green Energy YGE today announced that the Company will supply 72 megawatts of multi- and monocrystalline solar panels to Solarcentury Holdings, a leading solar company in the United Kingdom ("UK"). To read the full news, click here.

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