A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning as investors are awaiting weekly jobless-claims data. Futures on the Dow Jones Industrial Average rose 38 points to 11,702 and S&P 500 index futures gained 4.50 points to 1,276. Nasdaq 100 futures gained 8.25 points to 2,278. A Peek Into Global Markets Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has advanced 0.84%, London's FTSE 100 Index moved up 0.71%. Mostly Asian markets ended in the positive territory, with Japan's Nikkei Stock Average adding 1.44%, Australia's S&P/ASX 200 moving up 0.21% and China's Shanghai Composite dropping 0.51%. Broker Recommendation Piper Jaffray is reiterating its Overweight rating and $9 price target on shares of CapitalSource Inc. CSE. In the research note, Piper Jaffray writes, "CSE shares were up 4% yesterday following a report from the dealReporter.com and subsequently from the Wall Street Journal, which quoted that "several sources" have stated that CSE has hired JP Morgan to explore strategic alternatives, suggesting it is possible the company is up for sale. We are not sure about the accuracy of the reports and CSE management is not commenting on the report, as one would expect. However, we remain very confident in the fundamental business trends at the company. We feel any strategic moves, at this point, would be from a position of strength as credit and profitability have turned the corner and liquidity is strong. We reiterate our Overweight rating and our $9 target price." Shares of CSE gained 28 cents yesterday to close at $7.33. Breaking news

• The Cato Corporation CATO today reported sales for the five weeks ended January 1, 2011 of $106.6 million, a 3% increase over sales of $104.0 million for the five weeks ended January 2, 2010. To read the full news, click here.
• Chesapeake Energy Corporation CHK today provided a preliminary 2010 operational report and a 2011-12 strategic and financial plan update. The company's daily production for the 2010 fourth quarter averaged approximately 2.9 billion cubic feet of natural gas equivalent (bcfe), a decrease of 4% below the 3.0 bcfe produced per day in the 2010 third quarter and an increase of 11% over the 2.6 bcfe of daily production in the 2009 fourth quarter. To read the full news, click here.
• Limited Brands, Inc. LTD reported a comparable store sales increase of 5 percent for the five weeks ended Jan. 1, 2011, compared to the five weeks ended Jan. 2, 2010. To read the full news, click here.
• Spectrum Pharmaceuticals SPPI announced today that the first patient has been dosed in Japan in a Nippon Kayaku sponsored Phase 1 study of apaziquone in bladder cancer. To read the full news, click here.

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