Market Overview

A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data

A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data
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Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Data on motor vehicle sales for September will be released today. The Markit manufacturing PMI data for September is scheduled for release at 9:45 a.m. ET, while the ISM manufacturing index for September is schedule for release at 10:00 a.m. ET. Data on construction spending for August will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average rose 3 points to 18,222.00, while the Standard & Poor’s 500 index futures slipped 0.75 points to 2,160.25. Futures for the Nasdaq 100 index rose 0.50 points to 4,870.75.

Oil prices traded higher as Brent crude futures gained 0.60 percent to trade at $50.49 per barrel, while US WTI crude futures also rose 0.60 percent to trade at $48.53 a barrel.


A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.28 percent, STOXX Europe 600 Index gaining 0.18 percent. The UK's FTSE index was trading higher by 1.38 percent, while French CAC 40 Index rose 0.14 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.90 percent, Hong Kong’s Hang Seng Index gained 1.23 percent, China’s Shanghai Composite Index gained 0.21 percent and India’s BSE Sensex rose 1.35 percent.

Broker Recommendation

Analysts at Citigroup upgraded Dow Chemical Co (NYSE: DOW) from Neutral to Buy.

Dow Chemical shares rose 0.19 percent to close at $51.83 on Friday.

Breaking news

  • Janus Capital Group Inc (NYSE: JNS) and London-based Henderson Group announced their agreement to merge in an all-stock-deal. The merged entity would be known as "Janus Henderson Global Investors plc." The transaction is expected to be closed in the second quarter of 2017. To read the full news, click here.
  • Tesla Motors Inc (NASDAQ: TSLA) announced over the weekend that it delivered 70 percent more cars in the third quarter compared to the second quarter. The automaker of fully electronic cars said in a press release it delivered approximately 24,500 vehicles in the third quarter, of which 15,800 were Model S sedans and 8,700 were Model X SUVs. To read the full news, click here.
  • The latest data from the Macao Gaming and Coordination Bureau reveals that Macau brought in 18.3 billion patacas in September, up 7.4 percent year-over-year. Prior to August's 1.1 percent gain, Macau had registered 26 consecutive year-over-year monthly revenue declines. To read the full news, click here.

Posted-In: A Peek Into The Markets CitigroupNews Eurozone Futures Global Pre-Market Outlook Markets


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