Pre-open movers
US stock futures traded mostly flat in early pre-market trade, ahead of jobless claims data. Data on initial jobless claims will be released at 8:30 a.m. ET. The general conditions index of the Philadelphia Fed's Survey for June and the Conference Board's index of leading indicators for May will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average gained 1 point to 16,819.00, while the Standard & Poor's 500 index futures fell 0.10 points to 1,949.00. Futures for the Nasdaq 100 index gained 2.75 points to 3,798.50.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.96%, STOXX Europe 600 Index gaining 0.72%. German DAX 30 index rose 0.82%, French CAC 40 Index surged 0.87% and London's FTSE 100 Index gained 0.82%.
In Asian markets, Japan's Nikkei Stock Average rose 1.62%, Hong Kong's Hang Seng Index dropped 0.06%, China's Shanghai Composite Index tumbled 1.55% and India's BSE Sensex tumbled 0.18%.
Broker Recommendation
Analysts at RBC Capital upgraded FedEx FDX from “underperform” to “sector perform.” The target price for FedEx has been raised from $125 to $155.
FedEx's shares closed at $148.95 yesterday.
Breaking news
Market News and Data brought to you by Benzinga APIs- Revance Therapeutics RVNC announced Wednesday, the pricing of its underwritten public offering of 4,000,000 shares of its common stock at a price to the public of $30.50 per share pursuant to a registration statement filed with the Securities and Exchange Commission (SEC). To read the full news, click here.
- BIND Therapeutics BIND today announced that it has entered into a research agreement with Roche RHHBY to discover novel nanomedicines using Accurins for the treatment of diseases in therapeutic areas outside of oncology. To read the full news, click here.
- Shares of BlackBerry BBRY jumped more than 11% in pre-market trading after the company released fiscal first-quarter results. To read the full news, click here.
- Pier 1 Imports PIR reported a drop in its fiscal first-quarter profit and lowered its forecast. Pier 1's same-store sales climbed 6.3% in the quarter, while gross margin shrank to 40% from 42.4%. To read the full news, click here.
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