Market Overview

US Stock Futures Tumble Ahead Of Producer Prices, Consumer Sentiment Data

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US Stock Futures Tumble Ahead Of Producer Prices, Consumer Sentiment Data

Pre-open movers

US stock futures traded lower in early pre-market trade. The producer price index for November will be released at 8:30 a.m. ET, while the Reuters/University of Michigan's consumer sentiment index for December will be released at 9:55 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 123 points to 17,386.00, while the Standard & Poor's 500 index futures fell 13.40 points to 2,010.60. Futures for the Nasdaq 100 index dipped 33.50 points to 4,199.25.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 1.27%, STOXX Europe 600 Index dropping 1.46%. German DAX 30 index slipped 1.20%, French CAC 40 Index slipped 1.49% and London's FTSE 100 Index fell 1.49%.

In Asian markets, Japan's Nikkei Stock Average rose 0.66%, Hong Kong's Hang Seng Index tumbled 0.27%, China's Shanghai Composite Index climbed 0.42% and India's Sensex slipped 0.91%. Chinese industrial output climbed 7.2% y/y in November, versus a 7.7% growth in October. The country's retail sales climbed 11.7% y/y in the month.

Broker Recommendation
Analysts at Telsey upgraded Lululemon Athletica (NASDAQ: LULU) from Market Perform to Outperform. The price target for Lululemon has been raised from $45 to $60.

Lululemon's shares closed at $50.96 yesterday.

Breaking news

  • Olin (NYSE: OLN) announced today that it plans to permanently close the portion of its Becancour, Quebec, Canada facility that has been shut down since late June 2014. To read the full news, click here.
  • CNinsure (NASDAQ: CISG) today announced that it has obtained approval from the Board of Directors to increase the new share issue to employees from up to 100,000,000 ordinary shares to 150,000,000 ordinary shares, representing approximately 15% of the Company's current total outstanding share capital. To read the full news, click here.
  • Connecture (NASDAQ: CNXR) today announced the pricing of its initial public offering of 6,635,000 shares of its common stock at a public offering price of $8.00 per share. To read the full news, click here.
  • Abbott (NYSE: ABT) today announced that it has acquired control of Veropharm, a leading Russian pharmaceutical manufacturer. To read the full news, click here.
 

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