A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Yellen Speech

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Markit PMI Services Flash data for December is schedule for release at 9:45 a.m. ET. Federal Reserve Chair Janet Yellen is set to speak in Batimore, Maryland at 1:30 p.m. ET.

Futures for the Dow Jones Industrial Average gained 25 points to 19,818.00, while the Standard & Poor’s 500 index futures gained 2.25 points to 2,257.50. Futures for the Nasdaq 100 index rose 5 points to 4,920.50.

Oil prices traded higher as Brent crude futures gained 0.31 percent to trade at $55.38 per barrel, while US WTI crude futures also rose 0.34 percent to trade at $53.13 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.38 percent, STOXX Europe 600 Index declining 0.10 percent and German DAX 30 index dropping 0.01 percent. The UK's FTSE index was trading higher by 0.12 percent, while French CAC 40 Index declined 0.19 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.05 percent, Hong Kong’s Hang Seng Index fell 0.85 percent, China’s Shanghai Composite Index slipped 0.16 percent and India’s BSE Sensex declined 0.43 percent.

Broker Recommendation

Analysts at Jefferies upgraded Bristol-Myers Squibb Co BMY from Hold to Buy and raised price target to $69.00.

Bristol-Myers Squibb shares rose 1.50 percent to $59.50 in pre-market trading.

Breaking news

• Lennar Corporation LEN posted stronger-than-expected earnings for its fourth quarter on Monday.



• Fairfax Financial Holdings Ltd FRFHF agreed to buy Allied World Assurance Co Holdings, AG. AWH for $4.9 billion in cash and stock.



• Merck & Co., Inc. MRK disclosed that it has received an approval for KEYTRUDA in Japan.



• xG Technology Inc XGTI announced plans to acquire Vislink Communication Systems. However, terms of the deal were not disclosed.