Market Overview

A Peek Into The Markets: US Stock Futures Up Ahead Of Christmas Break

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A Peek Into The Markets: US Stock Futures Up Ahead Of Christmas Break

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after the Dow Jones recorded a gain of over 100 points in the previous session. President Donald Trump vetoed the annual defense policy bill on Wednesday, which authorizes more than $740 billion in spending and outlines Pentagon policy. Markets will remain closed tomorrow for the Christmas Day holiday.

Futures for the Dow Jones Industrial Average climbed 81 points to 30,115.00 while the Standard & Poor’s 500 index futures traded rose 10.25 points to 3,691.75. Futures for the Nasdaq 100 index rose 18 points to 12,669.25.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 18,465,910 with around 326,210 deaths. India reported a total of at least 10,123,770 confirmed cases, while Brazil confirmed over 7,365,510 cases.

Oil prices traded lower as Brent crude futures fell 0.1% to trade at $51.18 per barrel, while US WTI crude futures fell 0.2% to trade at $48.05 a barrel. Crude supplies declined 562,000 barrels in the latest week, the Energy Information Administration said Wednesday.

A Peek Into Global Markets

European markets were higher today on prospects of Britain and the EU reaching a Brexit trade deal. The Spanish Ibex Index rose 0.2% and STOXX Europe 600 Index gained 0.2%. The French CAC 40 Index climbed 0.1%, while London’s FTSE 100 rose 0.1%.

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.54%, China’s Shanghai Composite fell 0.57%, Hong Kong’s Hang Seng Index gained 0.16% and India’s BSE Sensex rose 1.2%. Australia's S&P/ASX 200 traded higher by 0.3%.

 

Broker Recommendation

Analysts at Cantor Fitzgerald downgraded HMS Holdings Corp (NASDAQ: HMSY) from Overweight to Neutral and announced a $37 price target.

HMS shares closed at $36.57 on Wednesday.

Breaking News

  • Altimmune Inc (NASDAQ: ALT) reported that the FDA has issued a clinical hold on its Investigational New Drug application for its intranasal Covid-19 vaccine candidate, AdCOVID.
  • Senseonics Holdings Inc (NYSE: SENS) lifted its sales guidance for the fourth quarter. The company said it now expects Q4 net sales of $3.5 million, versus prior forecast of $2.5 million.
  • Amedisys Inc (NASDAQ: AMED) disclosed that its board has authorized a $100 million share repurchase program
  • SIFCO Industries Inc (NYSE: SIF) reported a strong rise in its earnings for the fourth quarter.
 

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