A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures have turned higher today after the ADP data showed that the US private-sector employment increased in July. While futures on the Dow Jones Industrial Average climbed 32 points to 10,626, those on the S&P 500 gained 1.80 points to 1,120. Meanwhile, Nasdaq 100 futures gained 7 points to 1,900. A Peek Into Global Markets European markets are in the red today, as earnings reports from the banking sector were mixed. While STOXX Europe 600 Index has lost 0.39%, London’s FTSE 100 Index fell 0.77%. Asian markets ended mixed, with Japan's Nikkei Stock Average falling 2.11% and Australia's S&P/ASX 200 moving down 0.58%. Meanwhile, China's Shanghai Composite gained 0.44%. Broker Recommendation Hapolim Securities is lowering its rating on shares of Arena Pharmaceuticals ARNA from Buy to Hold, but raising its price target to $6.50 from $5. In the report, Hapolim Securities writes, "Based on the scheduled FDA expert panel, the recent successful FDA inspection of Arena’s Swiss manufacturing facility and the recent publication in JAMA which supported lorcaserin for the treatment of obesity, we are lowering our discount rate for lorcaserin from 40% to 30%, which increases our Price Target from $5.00 to $6.50. With Arena shares currently trading above $7.00 per share, however, we think the stock is fully valued.” Breaking news

• In his Stop Trading! segment on CNBC, Jim Cramer said that all taxpayers may be able to participate in the IPO of General Motors. Cramer commented, "We should take this thing to the next level." To read the full news, click here.
• A tweet from Reuters indicated that, Chinese luxury goods makers are trying to compete on a global stage and people are starting to notice. To read the full news, click here.
• In his Tuesday’s "Mad Money Lightning Round," Jim Cramer said that he likes CoreLogic CLGX. CLGX is a terrific company and it’s a good stock to own. CLGX gained 1.47% in after hours. To read the full news, click here.
• Owens Corning Inc OC announced on Tuesday morning that it missed consensus Wall Street earnings estimates. To read the full news, click here.

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