Market Overview

US Stock Futures Rise Ahead Of Housing, Consumer Confidence Data

US Stock Futures Rise Ahead Of Housing, Consumer Confidence Data

Pre-open movers

US stock futures traded higher in early pre-market trade. The S&P/Case-Shiller home price index for July will be released at 9:00 a.m. ET, while the Conference Board's consumer confidence report for September will be released at 10:00 a.m. ET. Data on farm prices for September will be released at 3:00 p.m. ET. Futures for the Dow Jones Industrial Average jumped 58.5 points to 15,967.5, while the Standard & Poor's 500 index futures rose 10 points to 1,882.00. Futures for the Nasdaq 100 index surged 23.75 points to 4,118.50.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index gaining 0.79 percent, STOXX Europe 600 Index falling 0.16 percent and German DAX 30 index gaining 0.28 percent. French CAC 40 Index rose 0.17 percent and London's FTSE 100 Index fell 0.46 percent.

In Asian markets, Japan's Nikkei Stock Average fell 4.05 percent, Hong Kong's Hang Seng Index declined 2.97 percent, China's Composite Index Index fell 2.02 percent and India's BSE Sensex climbed 0.63 percent.

Broker Recommendation
Analysts at UBS upgraded Bristol-Myers Squibb Co (NYSE: BMY) from Neutral to Buy and raised the price target from $65.00 to $75.00.

Bristol-Myers Squibb shares fell 4.57 percent to close at $57.49 on Monday.

Breaking news

  • IHS Inc. (NYSE: IHS) reported stronger-than-expected results for its fiscal third quarter on Tuesday. To read the full news, click here.
  • Vitae Pharmaceuticals Inc (NASDAQ: VTAE) today announced that it has initiated the second part of its Phase 1 multiple ascending dose clinical trial of VTP-43742 in psoriatic patients. To read the full news, click here.
  • Lexicon Pharmaceuticals, Inc.'s (NASDAQ: LXRX) telotristat etiprate was shown to have clinical benefit in treating carcinoid syndrome in cancer patients not adequately controlled by long-acting somatostatin analog (SSA) therapy, the current standard of care, according to data from the Phase 3 TELESTAR study presented today at the European Cancer Congress in Vienna, Austria. To read the full news, click here.
  • GTx, Inc. (NASDAQ: GTXI) today announced the enrollment of the first patient into its Phase 2 clinical trial of enobosarm (GTx-024) to treat women with advanced, estrogen receptor positive (ER+), androgen receptor positive (AR+) breast cancer. To read the full news, click here.

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


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