Market Overview

US Stock Futures Edge Higher; Bank of America Earnings In Focus

US Stock Futures Edge Higher; Bank of America Earnings In Focus
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Pre-open movers

US stock futures traded slightly higher in early pre-market trade, ahead of earnings from Bank of America Corp (NYSE: BAC). The Producer Price Index for June and the Empire State manufacturing index for July will be released at 8:30 a.m. ET. Data on industrial production for June will be released at 9:15 a.m. ET, while the Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average surged 14.5 points to 17,975.5, while the Standard & Poor's 500 index futures rose 1.95 points to 2,103.95. Futures for the Nasdaq 100 index gained 9.80 points to 4,527.30.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.26 percent, STOXX Europe 600 Index surging 0.10 percent and German DAX 30 index gaining 0.09 percent. French CAC 40 Index slipped 0.01 percent and London's FTSE 100 Index rose 0.01 percent.

In Asian markets, Japan's Nikkei Stock Average rose 0.38 percent, Homg Kong's Hang Seng Index dropped 0.26 percent, China's Shanghai Composite Index dipped 3.03 percent and India's BSE Sensex jumped 0.95 percent.

Broker Recommendation
Analysts at Barclays upgraded LinkedIn Corp (NYSE: LNKD) from Equal-weight to Overweight. The price target for LinkedIn has been raised from $225 to $250.

LinkedIn shares closed at $213.93 yesterday.

Breaking news

  • MacroGenics, Inc. (NASDAQ: MGNX) announced Tuesday, the pricing of an underwritten public offering of 3,525,000 shares of its common stock at a public offering price of $37.00 per share, before underwriting discounts. To read the full news, click here.
  • Actinium Pharmaceuticals, Inc. (NYSE: ATNM) announced today that it has submitted a request for a pre-IND meeting to the U.S. Food and Drug Administration for the company's Iomab-B drug candidate currently preparing to commence the pivotal Phase 3 trial. During the early development of a new drug, manufacturers are required to apply for and obtain IND designation. To read the full news, click here.
  • Advanced Microgrid Solutions (AMS), a developer of customer-sited energy storage systems that create Hybrid-Electric Buildings™, and SunEdison, Inc. (NYSE: SUNE), the world's largest renewable energy development company, today announced they have signed a joint development agreement to finance and deliver 50 megawatts of energy storage for Southern California Edison (SCE) under long-term capacity contracts. To read the full news, click here.
  • RedHill Biopharma Ltd. (NASDAQ: RDHL) today reported that it has elected to extend its August 2014 exclusive option agreement with RESprotect GmbH, a privately-held German-based biotech company for the acquisition of the oncology drug candidate RP101.To read the full news, click here.

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


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