Market Overview

US Stock Futures Up Ahead Of Economic Data

US Stock Futures Up Ahead Of Economic Data

Pre-open movers

US stock futures traded higher in early pre-market trade. The consumer price index for February will be released at 8:30 a.m. ET, while the FHFA house price index for January will be released at 9:00 a.m. ET. The Markit PMI manufacturing index for March will be released at 9:45 a.m. ET, while new home sales data for February and the Richmond Fed manufacturing index for March will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average jumped 44.50 points to 18,060.50, while the Standard & Poor's 500 index futures rose 3.90 points to 2,098.65. Futures for the Nasdaq 100 index gained 8.35 points to 4,445.10.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.46%, STOXX Europe 600 Index surging 0.14% and German DAX 30 index rising 0.23%. French CAC 40 Index climbed 0.42% and London's FTSE 100 Index rose 0.24%.

In Asian markets, Japan's Nikkei Stock Average dropped 0.21%, Hong Kong's Hang Seng Index slipped 0.39%, China's Shanghai Composite Index gained 0.10% and India's BSE Sensex slipped 0.11%.

Broker Recommendation
Analysts at Goldman Sachs downgraded Progressive Corp. (NYSE: PGR) from Buy to Neutral. The price target for Progressive is set to $28.00.

Progressive shares rose 0.11% to close at $27.68 yesterday.

Breaking news

  • IHS Inc. (NYSE: IHS) reported in-line earnings for the fiscal first quarter and lowered its outlook for the year. To read the full news, click here.
  • LINN Energy (NASDAQ: LINE) and LinnCo (NASDAQ: LNCO) announced today that LINN has signed a non-binding letter of intent with private capital investor Quantum Energy Partners to fund selected future oil and natural gas acquisitions and development on those acquired assets. To read the full news, click here.
  • Aerie Pharmaceuticals (NASDAQ: AERI) announced today the completion of enrollment in the Company's second Phase 3 registration trial of Rhopressa™, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure in patients with glaucoma or ocular hypertension. To read the full news, click here.
  • EnLink Midstream Partners (NYSE: ENLK) announced Monday, that it has entered into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation (NYSE: DVN). To read the full news, click here.

Related Articles (IHS + PGR)

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