A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data
U.S. stock futures traded slightly higher in early pre-market trade. The services PMI for August is schedule for release at 9:45 a.m. ET, while the ISM non-manufacturing index for August and the Fed labor market conditions index for August will be released at 10:00 a.m. ET. San Francisco Federal Reserve Bank President John Williams is set to speak in Reno, Nevada at 8:30 p.m. ET. U.S. stock markets were closed on Monday for the Labor Day holiday.
Futures for the Dow Jones Industrial Average gained 12 points to 18,492.00, while the Standard & Poor’s 500 index futures rose 1.50 points to 2,179.50. Futures for the Nasdaq 100 index rose 3.75 points to 4,799.00.
Oil prices traded mixed as Brent crude futures fell 0.59 percent to trade at $47.35 per barrel, while US WTI crude futures also rose 1.08 percent to trade at $44.92 a barrel.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index rising 0.22 percent, STOXX Europe 600 Index gaining 0.04 percent and German DAX 30 index gaining 0.26 percent. The UK's FTSE index was trading lower by 0.23 percent, while French CAC 40 Index climbed 0.12 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.26 percent, Hong Kong’s Hang Seng Index rose 0.58 percent, China’s Shanghai Composite Index gained 0.61 percent and India’s BSE Sensex climbed 1.56 percent.
Analysts at Argus Research downgraded VeriFone Systems Inc (NYSE: PAY) from Buy to Hold.
VeriFone shares rose 0.89 percent to $16.96 in pre-market trading.
- Danaher Corporation (NYSE: DHR) disclosed Tuesday that it reached a definitive merger deal with Cepheid (NASDAQ: CPHD) to buy the latter for $53.00 a share in cash. To read the full news, click here.
- Enbridge Inc (USA) (NYSE: ENB) and Spectra Energy Corp. (NYSE: SE) agreed to merge in an all stock transaction.
- EOG Resources Inc (NYSE: EOG) and Yates agreed to combine in a transaction valued at $2.5 billion.
- Marvell Technology Group Ltd. (NASDAQ: MRVL) announced mixed results for the second quarter. While adjusted EPS came in above expectations, revenue fell shy of the estimates. To read the full news, click here.
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