Market Overview

US Stock Futures Rise Ahead Of General Motors, McDonald's Earnings

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US Stock Futures Rise Ahead Of General Motors, McDonald's Earnings
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Pre-open movers

US stock futures traded higher in early pre-market trade, ahead of earnings from General Motors Company (NYSE: GM) and McDonald's Corporation (NYSE: MCD). Data on weekly jobless claims and the Chicago Fed National Activity Index for June will be released at 8:30 a.m. ET. The Conference Board's Leading Indicators Index for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average climbed 30.5 points to 17,815.5, while the Standard & Poor's 500 index futures rose 3.65 points to 2,111.65. Futures for the Nasdaq 100 index jumped 12.80 points to 4,629.80.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index gaining 0.02 percent, STOXX Europe 600 Index declining 0.09 percent and German DAX 30 index gaining 0.15 percent. French CAC 40 Index climbed 0.22 percent and London's FTSE 100 Index rose 0.27 percent.

In Asian markets, Japan's Nikkei Stock Average climbed 0.44 percent, Hong Kong's Hang Seng Index rose 0.46 percent, China's Shanghai Composite Index rose 2.43 percent and India's BSE Sensex slipped 0.47 percent.

Broker Recommendation
Analysts at B. Riley upgraded SanDisk Corporation (NASDAQ: SNDK) from Neutral to Buy. The price target for SanDisk has been raised from $60 to $75.

SanDisk shares closed at $54.18 yesterday.

Breaking news

  • Bristol-Myers Squibb Company (NYSE: BMY) today announced that the European Medicines Agency (EMA) has validated two of the company's type II variation applications, which seek to extend the current indication for its Immuno-Oncology agent, Opdivo. To read the full news, click here.
  • QUALCOMM, Inc. (NASDAQ: QCOM) reported better-than-expected earnings for its fiscal third quarter. However, the company lowered its FY15 forecast. The company announced its plans to lower spending by around $1.4 billion and reduce its workforce by 15 percent. The company also reported that will review structural alternatives, including break-up of the company. To read the full news, click here.
  • Colfax Corporation (NYSE: CFX) today announced that Matthew L. Trerotola, formerly an Executive Vice President at DuPont, has been named Chief Executive Officer and a Director of Colfax, effective July 24, 2015. To read the full news, click here.
  • SanDisk Corporation (NASDAQ: SNDK) reported stronger-than-expected results for the second quarter. To read the full news, click here.

Posted-In: B. Riley US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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