Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher; Fed Decision In Focus

A Peek Into The Markets: U.S. Stock Futures Edge Higher; Fed Decision In Focus

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The Consumer Price Index for November will be released at 8:30 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET, while the Fed Chair Janet Yellen will hold a press conference at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 8 points to 24,551.00, while the Standard & Poor’s 500 index futures rose 0.25 points to 2,668. Futures for the Nasdaq 100 index gained 6.25 points to 6,409.25.

Oil prices traded higher as Brent crude futures rose 0.68 percent to trade at $63.77 per barrel, while US WTI crude futures climbed 0.67 percent to trade at $57.52 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index gaining 0.26 percent, STOXX Europe 600 Index declining 0.14 percent and German DAX 30 index falling 0.16 percent. The UK's FTSE index was trading higher by 0.02 percent, while French CAC 40 Index fell 0.18 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 0.53 percent.

Broker Recommendation

Analysts at Keefe Bruyette & Woods upgraded Morgan Stanley (NYSE: MS) from Market Perform to Outperform.

Morgan Stanley shares rose 0.56 percent to $54.15 in pre-market trading.

Breaking news

  • VeriFone Systems Inc (NYSE: PAY) reported better-than-expected results for its fourth quarter. The company issued weak first quarter and FY18 guidance. The company also announced a $100 million buyback plan.
  • Finisar Corporation (NASDAQ: FNSR) shares climbed over 12 percent in pre-market trading following announcement of a $390 million award from Apple Inc. (NASDAQ: AAPL).
  • Helios and Matheson Analytics Inc (NASDAQ: HMNY) reported a common stock offering. The size of the offering was not disclosed. The company said that proceeds from the offering and warrants will be used to increase the company’s ownership stake in MoviePass.
  • bluebird bio Inc (NASDAQ: BLUE) priced its 3.2 million share offering at $185 per share.


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Posted-In: A Peek Into The Markets Keefe Bruyette & WoodsNews Eurozone Commodities Global Pre-Market Outlook Markets