A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning, as investors are economic data and earnings from major companies. Futures for the Dow Jones Industrial Average surged 47 points to 11,851.00 and S&P 500 index futures rose 6.40 points to 1,253.70. Nasdaq 100 futures gained 10.00 points to 2,298.25. A Peek Into Global Markets European markets were lower today. The STOXX Europe 600 Index declined 0.40 %, London's FTSE 100 Index moved down 1.01%, French CAC 40 index fell 0.25% and German DAX 30 index dropped 0.81%. Asian markets ended lower, with Japan's Nikkei Stock Average dropping 2.1488%, Australia's S&P/ASX 200 moving down 2.26% and China's Shanghai Composite declining 0.03%. Hong Kong's Hang Seng Index fell 1.9122% and India's Sensex dipped 0.79%. Broker Recommendation Analysts at Robert W. Baird downgraded MetroPCS Communications Inc PCS from "outperform" to "neutral." The target price for MetroPCS has been lowered from $22 to $10. MetroPCS shares fell 0.88% to $10.17 in after-hours trading. Breaking news

• Time Warner Inc (NYSE; TWX) released its results for the second quarter on Wednesday. Time Warner reported its quarterly profit at $638 million, or $0.59 per share, up from $562 million, or $0.49 per share, in the year-earlier period. To read the full news, click here.
• Incyte Corporation INCY announced today that the US Food and Drug Administration has accepted for filing the New Drug Application for Incyte's lead investigational compound, ruxolitinib (INCB18424/INC424), as a potential treatment for patients with myelofibrosis. To read the full news, click here.
• Quanta Services Inc PWR released its results for the second quarter on Wednesday. Quanta Services reported its quarterly net income at $34.3 million, or $0.15 per share, versus income of $33.3 million, or $0.16 per share, in the year-earlier period. To read the full news, click here.
• Global Traffic Network, Inc. GNET today announced that it has entered into a definitive merger agreement to be acquired by an affiliate of GTCR, LLC. To read the full news, click here.