A Peek Into The Markets: US Stock Futures Surge, Dow Futures Up Over 250 Points

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Chicago Fed National Activity Index for October is schedule for release at 8:30 a.m. ET, while the Dallas Fed manufacturing index for November will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 259 points to 24,519.00, while the Standard & Poor’s 500 index futures traded rose 31 points to 2,660.50. Futures for the Nasdaq 100 index surged 109.50 points to 6,640.75.

Oil prices traded higher as Brent crude futures rose 1.63 percent to trade at $59.77 per barrel, while US WTI crude futures rose 0.83 percent to trade at $50.84 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.6 percent, STOXX Europe 600 Index climbing 1.03 percent and German DAX 30 index climbed 1.2 percent. The UK's FTSE index was trading higher by 0.93 percent, while French CAC 40 Index rose 1.01 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.76 percent, Hong Kong’s Hang Seng Index jumped 1.73 percent, China’s Shanghai Composite Index fell 0.14 percent and India’s BSE Sensex declined 1.07 percent.

Broker Recommendation

Analysts at Citigroup downgraded Eli Lilly And Co LLY from Buy to Neutral.

Eli Lilly shares rose 0.12 percent to $113.00 in pre-market trading.

Breaking News

• Centerstate Bank Corp CSFL announced plans to acquire National Commerce Corp NCOM in a deal worth $850.4 million of CenterState stock.
• MorphoSys AG MOR reported the approval of Tremfya in Japan for the treatment of patients with palmoplantar pustulosis.
• Reuters reported on Friday that Logitech International SA LOGI is in talks to acquire Plantronics Inc PLT for over $2.2 billion. However, Plantronics confirmed that it is no longer in talks with Logitech following acquisition approach by Logitech.
• Rio Tinto plc ADR RIO agreed to sell 68.62 percent stake in Rössing Uranium for up to $106.5 million.