Market Overview

A Peek Into The Markets: US Stock Futures Up, Dow Futures Surge 450 Points

A Peek Into The Markets: US Stock Futures Up, Dow Futures Surge 450 Points

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The manufacturing PMI for November is schedule for release at 9:45 a.m. ET. Data on construction spending for October and the ISM manufacturing index for November will be released at 10:00 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in New York at 9:15 a.m. ET, while Federal Reserve Member of the Board of Governors Lael Brainard will speak in New York at 10:30 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan will speak in Laredo, Texas at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 451 points to 25,990.00, while the Standard & Poor’s 500 index futures traded rose 42.75 points to 2,801.00. Futures for the Nasdaq 100 index surged 157 points to 7,107.00.

Oil prices traded higher as Brent crude futures rose 4.59 percent to trade at $61.75 per barrel, while US WTI crude futures gained 4.08 percent to trade at $53.01 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.45 percent, STOXX Europe 600 Index surging 1.61 percent and German DAX 30 index climbed 2.42 percent. The UK's FTSE index was trading higher by 1.96 percent, while French CAC 40 Index rose 1.40 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1 percent, Hong Kong’s Hang Seng Index gained 2.55 percent, China’s Shanghai Composite Index climbed 2.57 percent and India’s BSE Sensex climbed 0.13 percent.

Broker Recommendation

Analysts at Oppenheimer downgraded Tractor Supply Company (NASDAQ: TSCO) from Outperform to Perform.

Tractor Supply shares rose 0.4 percent to $95.51 in pre-market trading.

Breaking News

  • New Age Beverages Corp (NASDAQ: NBEV) announced plans to acquire Morinda Holdings, Inc. for $75 million Cash and $10 million stock.
  • SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) announced an 8.92 million stock offering by selling shareholders.
  • Nexstar Media Group Inc (NASDAQ: NXST) is said to reach agreement to acquire Tribune Media Company for $4.1 billion, Reuters reported.
  • RadiSys Corporation (NASDAQ: RSYS) reported the CFIUS clearance related to its acquisition of Reliance Industries.

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Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets