Market Overview

US Stock Futures Edge Higher; Amazon Profit Beats Views

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US Stock Futures Edge Higher; Amazon Profit Beats Views

Pre-open movers

US stock futures traded slightly higher in early pre-market trade. The PMI manufacturing index (flash) for July will be released at 9:45 a.m. ET, while new home sales data for June will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average climbed 10 points to 17,686.0, while the Standard & Poor's 500 index futures rose 1.65 points to 2,100.15. Futures for the Nasdaq 100 index jumped 6.40 points to 4,626.40.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.31 percent, STOXX Europe 600 Index rising 0.23 percent and German DAX 30 index gaining 0.02 percent. French CAC 40 Index climbed 0.41 percent and London's FTSE 100 Index rose 0.08 percent.

In Asian markets, Japan's Nikkei Stock Average declined 0.67 percent, Hong Kong's Hang Seng Index fell 1.06 percent, China's Shanghai Composite Index dropped 1.29 percent and India's BSE Sensex slipped 0.91 percent.

Broker Recommendation
Analysts at Barclays upgraded Amazon.com, Inc. (NASDAQ: AMZN) from Equal-weight to Overweight. The price target for Amazon.com has been raised from $412 to $700.

Amazon.com shares jumped 20.08 percent to $579.00 in pre-market trading.

Breaking news

  • Shares of Amazon.com, Inc. (NASDAQ: AMZN) jumped around 20 percent in pre-market trading after the company reported upbeat earnings for its second quarter. To read the full news, click here.
  • Shares of American Airlines Group Inc (NASDAQ: AAL) surged over 2 percent in pre-market trading after the company reported better-than-expected profit for the second quarter. To read the full news, click here.
  • Biogen Inc (NASDAQ: BIIB) reported better-than-expected earnings for the second quarter, but the company's revenue missed analysts' estimates. To read the full news, click here.
  • Columbia Property Trust, Inc. (NYSE: CXP) announced it has signed a definitive agreement to acquire the commercial condominium unit in the historic New York Times Building, a 16-story, 481,110-square-foot Class-A office building located at 229 West 43rd Street in the Times Square submarket of Manhattan, from affiliates of Blackstone Real Estate Partners VI L.P. for $516 million. To read the full news, click here.
 

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