A Peek Into The Markets: US Stock Futures Up Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Empire State manufacturing index for December is schedule for release at 8:30 a.m. ET, while the flash Composite Purchasing Managers' Index for December will be released at 9:45 a.m. ET. The National Association of Home Builders housing market index for December is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 45 points to 28,210 while the Standard & Poor’s 500 index futures traded rose 10.3 points to 3,185.50. Futures for the Nasdaq 100 index gained 31.75 points to 8,552.75.

Oil prices traded higher as Brent crude futures rose 0.2% to trade at $65.34 per barrel, while US WTI crude futures rose 0.1% to trade at $60.09 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.8%, STOXX Europe 600 Index gaining 1% and German DAX 30 index gaining 0.6%. The UK's FTSE index was trading higher by 1.9%, while French CAC 40 Index rose 0.8%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.29%, Hong Kong’s Hang Seng Index dropped 0.65%, China’s Shanghai Composite Index rose 0.56% and India’s BSE Sensex fell 0.17%.

Broker Recommendation

Analysts at Jefferies initiated coverage on Amphenol Corporation (NYSE: APH) with a Buy rating and a $125 price target.

Amphenol shares fell 0.8% to close at $107.14 on Friday.

Breaking News

• Cineplex Inc (OTC: CPXGF) agreed to be acquired by Cineworld Group, plc (OTC: CNWGY) for $2.8 billion.
• Amarin Corporation plc (NASDAQ: AMRN) reported the FDA approval of VASCEPA to reduce cardiovascular risk. The company said it expects 2019 VASCEPA net revenue of $410 million to $425 million and 2020 VASCEPA net revenue of $650 million to $700 million.
• Shoe Carnival, Inc. (NASDAQ: SCVL) reported a $50 million buyback program and declared a quarterly cash dividend of $0.085 per share.
• Horizon Therapeutics PLC (NASDAQ: HZNP) disclosed that the FDA Advisory Committee has voted unanimously to support use of teprotumumab for Thyroid Eye Disease.