Market Overview

A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Fed Minutes

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A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Fed Minutes

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on motor vehicle sales for December will be released today. The ISM manufacturing index for December and data on construction spending for November will be released at 10:00 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 46 points to 24,814.00, while the Standard & Poor’s 500 index futures rose 4.25 points to 2,697.50. Futures for the Nasdaq 100 index gained 12.75 points to 6,527.75.

Oil prices traded higher as Brent crude futures rose 0.45 percent to trade at $66.87 per barrel, while US WTI crude futures gained 0.46 percent to trade at $60.65 a barrel.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.52 percent, STOXX Europe 600 Index gaining 0.29 percent and German DAX 30 index gaining 0.54 percent. The UK's FTSE index was trading higher by 0.03 percent, while French CAC 40 Index rose 0.44 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.08 percent, Hong Kong’s Hang Seng Index climbed 0.15 percent, China’s Shanghai Composite Index rose 0.62 percent and India’s BSE Sensex slipped 0.06 percent.

Broker Recommendation

Analysts at RBC Capital upgraded International Business Machines Corp. (NYSE: IBM) from Sector Perform to Outperform.

IBM shares rose 1.58 percent to $156.69 in pre-market trading.

Breaking news

  • Spectrum Brands Holdings, Inc. (NYSE: SPB) announced plans to explore strategic options for its battery and appliances businsses.
  • Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) disclosed that it has submitted an NDA to the FDA for antibiotic drug Eravacycline. The company also named Larry Tsai as Chief Medical Officer.
  • Corsair Pharma and United Therapeutics Corporation (NASDAQ: UTHR) entered into a strategic collaboration to advance novel treprostinil prodrugs.
  • Moneygram International Inc (NASDAQ: MGI) reported the termination of its merger deal with China’s Ant Financial, due to the CFIUS rejected the companies proposals related to protecting personal data.

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

 

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