Market Overview

US Stock Futures Up Ahead Of Auto Sales, Construction Spending Data

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US Stock Futures Up Ahead Of Auto Sales, Construction Spending Data
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Pre-open movers

US stock futures traded higher in early pre-market trade. Data on motor vehicle sales for November will be released today, while construction spending data for October will be released at 10:00 a.m. ET. Crude oil futures fell 1.10% to trade at $65.41 a barrel. Futures for the Dow Jones Industrial Average surged 30 points to 17,785.00, while the Standard & Poor's 500 index futures rose 2.50 points to 2,053.30. Futures for the Nasdaq 100 index jumped 9.50 points to 4,296.00.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.15%, STOXX Europe 600 Index gaining 0.34%. German DAX 30 index slipped 0.20%, French CAC 40 Index rose 0.08% and London's FTSE 100 Index climbed 1.02%.

In Asian markets, Japan's Nikkei Stock Average rose 0.42%, Hong Kong's Hang Seng Index surged 1.23%, China's Shanghai Composite Index jumped 3.11% and India's Sensex declined 0.40%.

Broker Recommendation
Analysts at Topeka Capital upgraded Cypress Semiconductor (NASDAQ: CY) from Hold to Buy. The price target for Cypress Semiconductor has been raised from $10.50 to $13.

Cypress' shares climbed 12.56% to $11.74 in after-hours trading.

Breaking news

  • Oncolytics Biotech (NASDAQ: ONCY) today announced that it has submitted applications for Orphan Drug Designation to the U.S. Food and Drug Administration ("FDA") for REOLYSIN® for the treatment of pancreatic and ovarian cancers. To read the full news, click here.
  • NTELOS Holdings (NASDAQ: NTLS) announced today several strategic initiatives to refocus on its Western Markets. To read the full news, click here.
  • Arthur J. Gallagher & Co. (NYSE: AJG) announced Monday, the acquisition of Instrat Insurance Brokers Pty Ltd (Instrat) located in Clayton North, Victoria, Australia. To read the full news, click here.
  • Cypress Semiconductor (NASDAQ: CY) and Spansion (NYSE: CODE) announced Monday that they will merge in an all-stock, tax-free transaction valued at approximately $4 billion. To read the full news, click here.

Posted-In: Topeka Capital US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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