Market Overview

US Stock Futures Jump Ahead Of Wholesale Inventories Data

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US Stock Futures Jump Ahead Of Wholesale Inventories Data
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Pre-open movers

US stock futures traded higher in early pre-market trade. The NFIB Small Business Optimism Index for January will be released at 9:00 a.m. ET, while wholesale inventories data for December will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 104 points to 17,785.00, while the Standard & Poor's 500 index futures rose 13.30 points to 2,055.70. Futures for the Nasdaq 100 index climbed 29.50 points to 4,243.75.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.44%, STOXX Europe 600 Index gaining 0.14% and German DAX 30 index rising 0.12%. French CAC 40 Index climbed 0.21% and London's FTSE 100 Index fell 0.43%. French Industrial output gained 1.5% in December versus November.

In Asian markets, Japan's Nikkei Stock Average fell 0.33%, Hong Kong's Hang Seng Index gained 0.03%, China's Shanghai Composite Index climbed 1.50% and India's BSE Sensex surged 0.45%. India projected a GDP growth rate of 7.4% in the current fiscal year. China's CPI increased 0.8% y/y in January, versus a 1.5% gain in December.

Broker Recommendation
Analysts at Deutsche Bank upgraded Citigroup Inc. (NYSE: C) from Hold to Buy and raised the price target from $51.00 to $54.00.

Citigroup's shares rose 0.14% to close at $49.21 yesterday.

Breaking news

  • Genesee & Wyoming Inc. (NYSE: GWR) reported weaker-than-expected earnings for the fourth quarter. To read the full news, click here.
  • Amicus Therapeutics (NASDAQ: FOLD) today announced positive data on pre-specified patient reported outcomes from both of its Phase 3 studies of the oral small molecule pharmacological chaperone migalastat HCl ("migalastat") for Fabry disease at WORLDSymposiumâ„¢ 2015 in Orlando, Florida. To read the full news, click here.
  • Shares of RetailMeNot Inc. (NASDAQ: SALE) tumbled more than 11% in pre-market trading after the company reported stronger-than-expected earnings for the fourth quarter, but issued a weak revenue forecast. To read the full news, click here.
  • Microsoft Corp. (NASDAQ: MSFT) on Monday announced the pricing of its offering of $10.75 billion of senior unsecured notes. 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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