Market Overview

US Stock Futures Mostly Flat; FOMC Minutes In Focus

US Stock Futures Mostly Flat; FOMC Minutes In Focus
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Pre-open movers

US stock futures traded mostly flat in early pre-market trade. Data on housing starts for January and the producer price index for January will be released at 8:30 a.m. ET. Data on industrial production for January will be released at 9:15 a.m. ET, while the Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average climbed 4 points to 18,005.00, while the Standard & Poor's 500 index futures fell 0.70 points to 2,095.20. Futures for the Nasdaq 100 index rose 2.50 points to 4,384.25.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.10%, STOXX Europe 600 Index surging 0.87% and German DAX 30 index gaining 0.61%. French CAC 40 Index jumped 1% and London's FTSE 100 Index rose 0.07%.

In Asian markets, Japan's Nikkei Stock Average rose 1.18%, Hong Kong's Hang Seng Index rose 0.19% and India's BSE Sensex climbed 0.63%.

Broker Recommendation
Analysts at Citigroup upgraded Chubb Corp (NYSE: CB) from Sell to Neutral. The price target for Chubb has been raised from $89 to $103.

Chubb's shares closed at $101.16 yesterday.

Breaking news

  • Hilton Worldwide Holdings Inc. (NYSE: HLT) reported weaker-than-expected earnings for the fourth quarter. To read the full news, click here.
  • Actavis plc (NYSE: ACT) today announced that it will adopt a new corporate name – Allergan – following the anticipated successful completion of the acquisition of Allergan, Inc. To read the full news, click here.
  • Aerie Pharmaceuticals (NASDAQ: AERI) announced today potentially breakthrough findings from new preclinical research. To read the full news, click here.
  • OncoSec Medical (OTC: ONCS) and Heat Biologics (NASDAQ: HTBX) today announced that they have entered into an agreement to evaluate the combination of the immunotherapy approaches developed by each company. To read the full news, click here.

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


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