Market Overview

US Stock Futures Slip Ahead Of Economic Data

US Stock Futures Slip Ahead Of Economic Data
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Pre-open movers

US stock futures traded lower in early pre-market trade. The Chicago Fed National Activity Index for January will be released at 8:30 a.m. ET, while the Markit PMI services index for February will be released at 9:45 a.m. ET. Data on Existing home sales for January will be released at 10:00 a.m. ET, while the Dallas Fed general business activity index for February will be released at 10:30 a.m. ET. Futures for the Dow Jones Industrial Average dropped 38 points to 18,066.00, while the Standard & Poor's 500 index futures fell 4.60 points to 2,102.50. Futures for the Nasdaq 100 index slipped 1 point to 4,437.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.62%, STOXX Europe 600 Index gaining 0.28% and German DAX 30 index gaining 0.35%. French CAC 40 Index rose 0.09% and London's FTSE 100 Index fell 0.36%.

In Asian markets, Japan's Nikkei Stock Average rose 0.73%, Hong Kong's Hang Seng Index gained 0.02% and India's BSE Sensex dropped 0.88%.

Broker Recommendation
Analysts at Piper Jaffray downgraded Salix Pharmaceuticals Ltd. (NASDAQ: SLXP) from Overweight to Neutral and lowered the price target from $160.00 to $158.00.

Salix Pharmaceuticals shares dipped 1.17% to $156.00 in pre-market trading.

Breaking news

  • DISH Network Corporation (NASDAQ: DISH) today announced that President and Chief Executive Officer Joseph P. Clayton will retire from his position effective March 31, 2015. Clayton, who is a 42-year veteran of the consumer electronics industry, leaves the post he assumed in June of 2011. To read the full news, click here.
  • Shares of Tower Semiconductor Ltd. (NASDAQ: TSEM) surged more than 7% in pre-market trading after the company reported better-than-expected earnings for the fourth quarter. To read the full news, click here.
  • Valeant Pharmaceuticals International, Inc. (NYSE: VRX) agreed to acquire Salix Pharmaceuticals, Ltd. (NASDAQ: SLXP) for $158.00 per share in cash. To read the full news, click here.
  • Allegiant Travel Company (NASDAQ: ALGT) today announced that it has entered into an agreement to purchase six additional A319 aircraft. To read the full news, click here.

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


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