Pre-open movers
U.S. stock futures traded higher in early pre-market trade. The Federal Open Market Committee will begin its two-day policy meeting today. Data on import and export prices for November will be released at 8:30 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 72 points to 19,853.00, while the Standard & Poor’s 500 index futures gained 6.50 points to 2,262.75. Futures for the Nasdaq 100 index rose 16.50 points to 4,884.25.
Oil prices traded higher as Brent crude futures gained 1.11 percent to trade at $56.31 per barrel, while US WTI crude futures also rose 1.04 percent to trade at $54.31 a barrel.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 1 percent, STOXX Europe 600 Index gaining 0.78 percent and German DAX 30 index gaining 0.60 percent. The UK's FTSE index was trading higher by 0.51 percent, while French CAC 40 Index climbed 0.61 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.50 percent, Hong Kong’s Hang Seng Index rose 0.06 percent, China’s Shanghai Composite Index rose 0.07 percent and India’s BSE Sensex climbed 0.69 percent.
Broker Recommendation
Analysts at Deutsche Bank downgraded Procter & Gamble Co PG from Buy to Hold and lowered the price target from $95.00 to $90.00.
Procter & Gamble shares fell 0.28 percent to $84.89 in pre-market trading.
Breaking news
- Hexcel Corporation HXL issued a weak profit and sales forecast for 2017.
- VeriFone Systems Inc PAY reported better-than-expected earnings for its fourth quarter, but issued a weak outlook for the first quarter.
- Boeing Co. BA lifted its quarterly dividend by 30 percent to $1.42 per share. The company’s board also announced a a new $14 billion share buyback plans.
- Inovalon Holdings Inc INOV cut its earnings and revenue guidance for full year 2016.
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