Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher; All Eyes On Fed Decision

A Peek Into The Markets: U.S. Stock Futures Edge Higher; All Eyes On Fed Decision
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Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The Producer Price Index for November and data on retail sales for November will be released at 8:30 a.m. ET. Data on industrial production for November will be released at 9:15 a.m. ET, while data on business inventories for October will be released at 10:00 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET, while the Fed Chair Janet Yellen will hold a press conference at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average gained 2 points to 19,860.00, while the Standard & Poor’s 500 index futures rose 0.75 points to 2,268.50. Futures for the Nasdaq 100 index rose 3 points to 4,940.50.

Oil prices traded lower as Brent crude futures dropped 1.27 percent to trade at $55.01 per barrel, while US WTI crude futures also fell 1.35 percent to trade at $53.21 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.79 percent, STOXX Europe 600 Index declining 0.48 percent and German DAX 30 index dropping 0.23 percent. The UK's FTSE index was trading lower by 0.11 percent, while French CAC 40 Index slipped 0.60 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.02 percent, Hong Kong’s Hang Seng Index rose 0.04 percent, China’s Shanghai Composite Index fell 0.46 percent and India’s BSE Sensex declined 0.36 percent.

Broker Recommendation

Analysts at Brean Capital upgraded Twenty-First Century Fox Inc (NASDAQ: FOXA) from Hold to Buy.

Twenty-First Century Fox shares rose 0.74 percent to $27.24 in pre-market trading.

Breaking news

  • Joy Global Inc. (NYSE: JOY) reported in-line earnings for its fourth quarter on Wednesday. To read the full news, click here.
  • Nordson Corporation (NASDAQ: NDSN) reported stronger-than-expected results for its fourth quarter on Tuesday. To read the full news, click here.
  • Express Scripts Holding Company (NASDAQ: ESRX) affirmed its adjusted profit forecast for 2016. The company now projects 2017 adjusted earnings of $6.82 to $7.02 per share. To read the full news, click here.
  • Heico Corp (NYSE: HEI) posted upbeat earnings for its fourth quarter, but sales missed expectations. To read the full news, click here.

Posted-In: Earnings News Guidance Eurozone Futures Global Pre-Market Outlook Markets


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