A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are lower this morning, after the World Bank lowered its China growth outlook. Futures for the Dow Jones Industrial Average dipped 47 points to 13,489.00 and S&P 500 index futures fell 5.50 points to 1,450.00. Nasdaq 100 futures dropped 14 points to 2,790.25.

A Peek Into Global Markets European markets were mostly lower today. The STOXX Europe 600 Index fell 0.82%, London's FTSE 100 Index gained 0.11%, French CAC 40 Index declined 1.22% and German DAX 30 index fell 1.22%.

Asian markets ended lower, with China's Shanghai Composite dropping 0.56% and Australia's S&P/ASX 200 falling 0.26%. Hong Kong's Hang Seng index fell 0.89% and India's Sensex fell 1.21%.

Broker Recommendation Analysts at Bernstein upgraded MetroPCS Communications (NYSE: PCS) from “market perform” to “outperform.” The target price for MetroPCS has been raised from $9 to $16.

MetroPCS shares dropped 0.32% to close at $12.65 on Friday.

Breaking news

• Suntech Power Holdings (NYSE: STP) and EDP Renovaveis have signed a contract for Suntech to supply 39 megawatts (MW) of polycrystalline solar panels. To read the full news, click here.
• Wright Medical Group (NASDAQ: WMGI) today announced that the Deferred Prosecution Agreement (DPA) entered into effective September 29, 2010 with the United States Attorney's Office for the District of New Jersey has expired. To read the full news, click here.
• Siemens Smart Grid Division (NYSE: SI) and Utilicase have entered into a collaboration agreement to offer a combined solution linking Smart Grid functionality with Enterprise Asset Management for the North America market. To read the full news, click here.
• Spectrum Pharmaceuticals (NASDAQ: SPPI) today announced that the United States Patent and Trademark Office (USPTO) has extended by five years the U.S. Patent No. 6,028,071, which covers FOLOTYN® (pralatrexate injection). To read the full news, click here.