Market Overview

A Peek Into The Markets: U.S. Stock Futures Gain After Italian Vote Result

A Peek Into The Markets: U.S. Stock Futures Gain After Italian Vote Result


Pre-open movers

U.S. stock futures traded higher in early pre-market trade, as Italian Prime Minister Matteo Renzi vowed to resign after a defeat in a referendum on constitutional reforms. New York Federal Reserve President William Dudley is set to speak in in New York at 8:30 a.m. ET, while Chicago Federal Reserve Bank President Charles Evans will speak in Chicago at 9:11 a.m. ET. US Services Purchasing Managers' Index for November is schedule for release at 9:45 a.m. ET. The ISM non-manufacturing index for November and the Labor Market Conditions Index for November will be released at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak at the Arizona State University, W.P. Carey School at 2:05 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 72 points to 19,230.00, while the Standard & Poor’s 500 index futures gained 7.50 points to 2,199.50. Futures for the Nasdaq 100 index surged 20.50 points to 4,759.00.

Oil prices traded higher as Brent crude futures gained 0.44 percent to trade at $54.70 per barrel, while US WTI crude futures also rose 0.35 percent to trade at $51.86 a barrel. The Baker Hughes North American rig count report for the latest week November is schedule for release at 1:00 p.m. ET.


A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.50 percent, STOXX Europe 600 Index climbing 0.63 percent and German DAX 30 index gaining 1.36 percent. The UK's FTSE index was trading higher by 0.20 percent, while French CAC 40 Index climbed 1.01 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.82 percent, Hong Kong’s Hang Seng Index declined 0.26 percent, China’s Shanghai Composite Index dipped 1.21 percent and India’s BSE Sensex gained 0.45 percent.

Broker Recommendation

Analysts at Guggenheim upgraded Visa Inc (NYSE: V) from Neutral to Buy.

Visa shares rose 1.16 percent to $76.60 in pre-market trading.

Breaking news

  • Consolidated Communications Holdings Inc (NASDAQ: CNSL) announced plans to acquire FairPoint Communications Inc (NASDAQ: FRP) for $1.5 billion in an all-stock merger.
  • Sirius XM Holdings Inc. (NASDAQ: SIRI) Chairman Greg Maffei is said to have approached Pandora Media Inc’s (NYSE: P) Board regarding a potential acquisition, according to sources as reported by Bloomberg on Friday.
  • Tecnoglass disclosed that it has acquired Florida-Based E.S. Windows for $13.0 million.
  • Burberry (OTC: BURBY) is said to have rejected multiple takeover from Coach Inc (NYSE: COH), according to sources as reported by Financial Times on Sunday.

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


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