Pre-open movers
U.S. stock futures traded slightly higher in early pre-market trade. The Consumer Price Index for October, housing starts report
for October, the Philadelphia Fed general conditions index for November and initial jobless claims data for the latest week will be
released at 8:30 a.m. ET. New York Federal Reserve Bank President William Dudley is set to speak at the Global Research Forum on
International Macroeconomics and Finance at 8:50 a.m. ET. Federal Reserve Chair Janet Yellen is set to testify before the Joint
Economic Committee of Congress in Washington D.C. at 10:00 a.m. ET. Federal Reserve Governor Lael Brainard will speak in New York
at 12:30 p.m. ET, while Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago at 2:45 p.m. ET.
Futures for the Dow Jones Industrial Average rose 12 points to 18,845.00, while the Standard & Poor’s 500 index futures gained
2.25 points to 2,175.25. Futures for the Nasdaq 100 index gained 14.75 points to 4,797.25.
Oil prices traded higher as Brent crude futures rose 1.44 percent to trade at $47.30 per barrel, while US WTI crude futures also
rose 1.32 percent to trade at $46.71 a barrel. The Energy Information Administration’s weekly report on natural gas stocks is
schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index gaining 0.62 percent, STOXX Europe 600 Index rising 0.14
percent and German DAX 30 index dropping 0.14 percent. The UK's FTSE index was trading higher by 0.38 percent, while French CAC 40
Index rose 0.18 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.01 percent, Hong Kong’s Hang Seng Index fell 0.08 percent, China’s
Shanghai Composite Index gained 0.11 percent and India’s BSE Sensex declined 0.27 percent.
Broker Recommendation
Analysts at Goldman Sachs upgraded Microsoft Corporation (NASDAQ: MSFT) from Neutral to Buy and raised the price target from $60.00 to $68.00.
Microsoft shares rose 1.17 percent to $60.35 in pre-market trading.
Breaking news
- Shares of Wal-Mart Stores, Inc. (NYSE: WMT) ticked
lower by more than 3 percent early Thursday morning after the company reported third quarter results. Wal-Mart said it earned
$0.98 per share in the quarter on revenue of $117.2 billion. Analysts were expecting the company to earn $0.96 per share on
revenue of $118.7 billion. To read the full news, click here.
-
First Solar Inc (NASDAQ: FSLR) announced plans to
cut 27 percent of its global workforce and issued a weak sales forecast for 2017. However, the company raised its adjusted
profit guidance for 2016. To read the full news, click here.
-
Cisco Systems, Inc. (NASDAQ: CSCO) reported
upbeat earnings for its fiscal first quarter, but issued a weak outlook for the current quarter. To read the full news,
click here.
-
Tesoro Corporation (NYSE: TSO) announced plans to
buy Western Refining, Inc. (NYSE: WNR) for $37.30
per share in a stock transaction. To read the full news, click
here.
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