A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures moved up, as investors are awaiting better-than-expected quarterly earnings. Futures on the Dow Jones Industrial Average gained 42 points to 11,105, while futures on the S&P 500 rose 5.60 points to 1,180. Nasdaq 100 futures moved up 13.25 points to 2,097. A Peek Into Global Markets Positive sentiments ruled the European markets today. While STOXX Europe 600 Index has advanced 0.42%, London's FTSE 100 Index moved up 0.69%. Asian markets ended mixed, with Japan's Nikkei Stock Average losing 0.05%, Australia's S&P/ASX 200 moving up 0.04% and China's Shanghai Composite losing 0.69%. Broker Recommendation J.P. Morgan Chase & Co. cut its price target on Seagate Technology STX to $14 from $15, and is maintaining its Neutral rating after the hard-drive maker reported earnings yesterday. In a note to clients, J.P. Morgan writes, "Neutral-rated Seagate reported disappointing September quarter results and hosted a guarded earnings call, in our view. Due to regulatory requirements related to the recently-announced go-private interest, Seagate did not offer financial guidance for the December quarter. With the go-private potential, we think there is downside support to the stock, but, in our view, the risk-reward profile is becoming difficult for private equity hurdle rates. We believe the current state of the HDD industry, replete with weak end markets, erratic order patterns, market aggressors, and a slippery pricing curve, calls into question the longer-term revenue and cash flow outlook of the industry." Shares of STX lost 3 cents yesterday to close at $15.21. Breaking news

• Almost no one expected Nokia NOK to post strong third quarter earnings, but it did. Revenue rose 5% to 10.27 billion euros. To read the full news, click here.
• Toyota announced today that it will be recalling 1.5 million vehicles for potential brake and fuel system problems, according to CNN. To read the full news, click here.
• Caterpillar Inc. CAT today reported the company's outlook for 2010 sales and revenues is a range of $41 to $42 billion, an increase of 28 percent from 2009 at the midpoint of the range. To read the full news, click here.
• JetBlue Airways Corporation JBLU today reported its results for the third quarter 2010. To read the full news, click here.

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