Pre-open movers
U.S. stock futures traded mostly flat in early pre-market trade. Data on new home sales for November will be released at 10:00
a.m. ET, while the University of Michigan's consumer sentiment index for December is schedule for release at 10:00 a.m. ET. U.S.
markets are closed Monday for the Christmas Day holiday.
Futures for the Dow Jones Industrial Average dropped 1 point to 19,873.00, while the Standard & Poor’s 500 index futures rose
0.25 points to 2,259.00. Futures for the Nasdaq 100 index slipped 3 points to 4,933.75.
Oil prices traded lower as Brent crude futures dropped 0.82 percent to trade at $54.60 per barrel, while US WTI crude futures
also fell 0.83 percent to trade at $52.51 a barrel. The Baker Hughes North American rig count report for the latest week will be
released at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index gaining 0.37 percent, STOXX Europe 600 Index rising 0.05
percent and German DAX 30 index gaining 0.08 percent. The UK's FTSE index was trading lower by 0.08 percent, while French CAC 40
Index rose 0.03 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.09 percent, Hong Kong’s Hang Seng Index fell 0.28 percent, China’s
Shanghai Composite Index declined 0.94 percent and India’s BSE Sensex gained 0.24 percent.
Broker Recommendation
Analysts at Brean Capital downgraded Time Warner Inc (NYSE: TWX) from Buy to Hold.
Time Warner shares rose 0.49 percent to close at $96.46 on Thursday.
Breaking news
-
Dipexium Pharmaceuticals Inc. (NASDAQ: DPRX)
announced plans to merge with privately-held PLx Pharma Inc in an all-stock deal.
- A report from Deal Reporter mentioned that Mondelez International (NASDAQ: MDLZ) could be getting ready to make a new bid for Hershey Co (NYSE:
HSY), according to sources. Mondelez had ended its bid to
acquire Hershey in August following rejecting of multiple offers by Hershey.
-
Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
announced after Thursday's closing bell that its drug plecanatide, a daily pill to fight irritable bowel syndrome, had achieved
positive top-line results from the second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of the
drug.
-
Blackstone Group LP (NYSE: BX) is said to be in talks
to take a stake in Energy Transfer Partners LP (NYSE: ETP) assets, according to sources as reported by Dow Jones. A source said a deal
could be valued at around $5 billion.
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