Market Overview

A Peek Into The Markets: U.S. Stock Futures Mostly Higher Ahead Of Fed Meeting

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A Peek Into The Markets: U.S. Stock Futures Mostly Higher Ahead Of Fed Meeting

Pre-open movers

U.S. stock futures traded mostly higher in early pre-market trade. The Federal Open Market Committee will begin its two-day policy meeting today. The Producer Price Index for November will be released at 8:30 a.m. ET. The U.S. Treasury budget report for November is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 23 points to 24,423.00, while the Standard & Poor’s 500 index futures gained 1.25 points to 2,662.75. Futures for the Nasdaq 100 index slipped 2.25 points to 6,395.25.

Oil prices traded higher as Brent crude futures rose 1.42 percent to trade at $65.61 per barrel, while US WTI crude futures climbed 0.55 percent to trade at $58.31 a barrel.

 

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.32 percent, STOXX Europe 600 Index gaining 0.21 percent and German DAX 30 index rising 0.09 percent. The UK's FTSE index was trading higher by 0.24 percent, while French CAC 40 Index rose 0.25 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.32 percent, Hong Kong’s Hang Seng Index dropped 0.59 percent, China’s Shanghai Composite Index dipped 1.25 percent and India’s BSE Sensex declined 0.68 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded Freeport-McMoRan Inc (NYSE: FCX) from Underweight to Equal-Weight and raised the price target from $10.00 to $14.00.

Freeport-McMoRan shares rose 0.93 percent to $15.16 in pre-market trading.

Breaking news

  • Repros Therapeutics Inc (NASDAQ: RPRX) agreed to be acquired by Allergan for $0.67 per share in cash.
  • Casey's General Stores Inc (NASDAQ: CASY) reported weaker-than-expected earnings for its second quarter.
  • NCI Building Systems Inc (NYSE: NCS) priced 7.15 million shared by selling shareholders at $19.55 per share.
  • Boeing Co (NYSE: BA) reported a $18 billion buyback plan and raised its quarterly dividend from $1.42 per share to $1.71 per share.

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

 

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