Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data, Yellen Speech

A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data, Yellen Speech

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The Consumer Price Index for December will be released at 8:30 a.m. ET, while data on industrial production for December will be released at 9:15 a.m. ET. The housing market index for January is schedule for release at 10:00 a.m. ET, while the Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET. Minneapolis Federal Reserve Bank President Kashkari is set to speak at Minneapolis Urban League in Minn. at 10:00 a.m. ET, while Federal Reserve Chairm Janet Yellen will speak in San Francisco at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 4 points to 19,748.00, while the Standard & Poor’s 500 index futures rose 0.50 points to 2,263.50. Futures for the Nasdaq 100 index climbed 5.50 points to 5,045.50.

Oil prices traded lower as Brent crude futures dropped 1.28 percent to trade at $54.76 per barrel, while US WTI crude futures also fell 1.35 percent to trade at $52.54 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.34 percent, STOXX Europe 600 Index declining 0.36 percent and German DAX 30 index dropping 0.05 percent. The UK's FTSE index was trading higher by 0.09 percent, while French CAC 40 Index fell 0.65 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.43 percent, Hong Kong’s Hang Seng Index gained 1.13 percent, China’s Shanghai Composite Index gained 0.14 percent and India’s BSE Sensex rose 0.08 percent.

Broker Recommendation

Analysts at BMO Capital downgraded Walt Disney Co (NYSE: DIS) from Market Perform to Underperform and lowered the price target from $90.00 to $88.00.

Disney shares fell 1.08 percent to $106.80 in pre-market trading.

Breaking news

  • Goldman Sachs Group Inc (NYSE: GS) reported better-than-expected results for its fourth quarter on Wednesday.
  • Target Corp. (NYSE: TGT) lowered its sales and profit guidance for fourth quarter. The company’s same-store sales dropped 1.3 percent in the November to December holiday period.
  • Fastenal Company (NASDAQ: FAST) reported upbeat earnings for its fourth quarter on Wednesday. The company also projects to exceed its earlier Q4 revenue forecast.
  • CoLucid Pharmaceuticals Inc (NASDAQ: CLCD) agreed to be acquired by Eli Lilly and Co (NYSE: LLY) for $46.50 per share in cash.

Posted-In: Earnings News Guidance Eurozone Futures M&A Global Pre-Market Outlook


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