Market Overview

US Stock Futures Edge Lower Ahead Of Federal Budget

US Stock Futures Edge Lower Ahead Of Federal Budget
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Pre-open movers

US stock futures traded slightly lower in early pre-market trade. The U.S. Treasury monthly budget report for March will be released at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 14.50 points to 17,958.50, while the Standard & Poor's 500 index futures fell 2.35 points to 2,093.15. Futures for the Nasdaq 100 index slipped 0.45 points to 4,414.30.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.62%, STOXX Europe 600 Index surging 0.11% and German DAX 30 index dropping 0.01%. French CAC 40 Index gained 0.03% and London's FTSE 100 Index rose 0.60%.

In Asian markets, Japan's Nikkei Stock Average fell 0.01%, China's Shanghai Composite Index jumped 2.17%, Hong Kong's Hang Seng Index climbed 2.73% and India's BSE Sensex surged 0.57%.

Broker Recommendation
Analysts at UBS upgraded Netflix (NASDAQ: NFLX) from Neutral to Buy and raised the price target from $370.00 to $565.00.

Netflix shares rose 3.43% to close at $454.57 on Friday.

Breaking news

  • Rentrak (NASDAQ: RENT) has signed a multi-year TV measurement agreement with WUSA9, the Gannett-owned CBS-affiliate in Washington, D.C. To read the full news, click here.
  • Alamos Gold (NYSE: AGI) and AuRico Gold (NYSE: AUQ) are pleased to announce that they have entered into a definitive agreement to combine their respective companies by way of a plan of arrangement, creating a new, leading intermediate gold producer. To read the full news, click here.
  • Affymetrix (NASDAQ: AFFX) and MTI Ltd., through its wholly-owned subsidiary, EverGene Ltd., (MTI/EG) announce that the two companies will collaborate in genetic research and personal genomics services in Japan. To read the full news, click here.
  • Sears Holdings Corporation (NASDAQ: SHLD) and Simon Property Group, Inc. (NYSE: SPG) announced that they have created a joint venture as part of Sears Holdings' continued efforts to unlock the value of its extensive portfolio of real estate holdings. To read the full news, click here.

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


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