Market Overview

US Stock Futures Flat Ahead Of Housing Data

US Stock Futures Flat Ahead Of Housing Data
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Pre-open movers

US stock futures traded mostly flat in early pre-market trade. The Empire State manufacturing index for August will be released at 8:30 a.m. ET, while the NAHB housing market index for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average dropped 1.5 points to 17,437.5, while the Standard & Poor's 500 index futures fell 1.55 points to 2,087.95. Futures for the Nasdaq 100 index slipped 0.55 points to 4,531.20.

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 0.20 percent and German DAX 30 index gaining 0.27 percent. French CAC 40 Index climbed 0.43 percent and London's FTSE 100 Index fell 0.14 percent.

In Asian markets, Japan's Nikkei Stock Average rose 0.49 percent, Hong Kong's Hang Seng Index declined 0.74 percent, China's Shanghai Composite Index climbed 0.71 percent and India's BSE Sensex fell 0.67 percent.

Broker Recommendation
Analysts at Morgan Stanley maintained their Overweight rating for Tesla Motors Inc (NASDAQ: TSLA). The target price for Tesla is raised from $280 to $465.

Tesla shares climbed 4.07 percent to $253.04 in pre-market trading.

Breaking news

  • Brooks Automation, Inc.(USA) (NASDAQ: BRKS) announced today that it has expanded its Contamination Control Solutions business with the acquisition of Contact Co., Ltd. To read the full news, click here.
  • United Therapeutics Corporation (NASDAQ: UTHR) announced today that the European Commission has granted Marketing Authorisation for Unituxin™ for the treatment of high-risk neuroblastoma in patients aged 12 months to 17 years, who have previously received induction chemotherapy and achieved at least a partial response, followed by myeloablative therapy and autologous stem cell transplantation. To read the full news, click here.
  • AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today announced an exclusive, worldwide license agreement with Novartis for the development and commercialization of AVEO's first-in-class, potent, humanized inhibitory antibody targeting growth differentiation factor 15 (GDF15), AV-380, and related antibodies, including modified or derivative forms of any such antibody. To read the full news, click here.
  • Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) announced today that the company has reached agreement with the U.S. Food and Drug Administration on the Special Protocol Assessment of the planned Phase 3 clinical trial of its novel, potent pro-drug, apaziquone. To read the full news, click here.

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


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