US Stock Futures Surge Ahead Of Existing Home Sales Data

Pre-open movers

US stock futures traded higher in early pre-market trade. Data on existing home sales for August will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average jumped 74 points to 16,392.0, while the Standard & Poor's 500 index futures rose 8.25 points to 1,958.75. Futures for the Nasdaq 100 index climbed 16.75 points to 4,343.50.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index gaining 0.43 percent, STOXX Europe 600 Index rising 0.87 percent and German DAX 30 index dropping 0.44 percent. French CAC 40 Index jumped 1.01 percent and London's FTSE 100 Index rose 0.76 percent. In Asian markets, Hong Kong's Hang Seng Index fell 0.75 percent, China's Composite Index Index gained 1.89 percent and India's BSE Sensex slipped 0.10 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded

Lululemon Athletica inc. LULU

from Equal-weight to Overweight and raised the price target from $56.00 to $68.00. Lululemon Athletica shares rose 2.70 percent to $54.34 in pre-market trading.

Breaking news

Lennar Corporation LEN reported stronger-than-expected results for its fiscal third quarter on Monday. To read the full news, click here.
Rexford Industrial Realty Inc REXR today announced the acquisition of 6020 Sheila Street, a single tenant industrial building located in central Los Angeles, for $12.2 million, or approximately $172 per square foot. To read the full news, click here.
Western Refining, Inc. WNR today announced that its Board of Directors has authorized an additional $200 million share repurchase program effective through December 31, 2016. To read the full news, click here.
Dialog Semiconductor DLGNF and Atmel Corporation ATML announced today that Dialog has agreed to acquire Atmel in a cash and stock transaction for total consideration of approximately $4.6 billion. To read the full news, click here.

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