A Peek Into The Market Before The Trading Starts

Pre-open movers

US stock futures are higher this morning. Standard & Poor's downgraded Italy's credit rating by one notch to A. Futures for the Dow Jones Industrial Average surged 74 points to 11,397.00 and S&P 500 index futures rose 7.60 points to 1,205.40. Nasdaq 100 futures jumped 19.50 points to 2,320.50.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index rose 1.12%, London's FTSE 100 Index moved up 1.47%, French CAC 40 index rose 1.13% and German DAX 30 index gained 1.93%. Asian markets ended mixed, with Japan's Nikkei Stock Average dipping 1.6123%, Australia's S&P/ASX 200 moving down 0.94% and China's Shanghai Composite rising 0.41%. Hong Kong's Hang Seng Index gained 0.5120% and India's Sensex surged 2.30%.

Broker Recommendation

Analysts at JP Morgan downgraded Molycorp Inc

MCP

from “overweight” to “neutral.” The target price for Molycorp has been lowered from $105 to $66. Molycorp shares dropped 4.73% to $50.50 in pre-market trading.

Breaking news

IRIDEX Corporation IRIX today announced that it has exclusively licensed the rights to all of the intellectual property of Ocunetics Inc, a privately held company based in Alamo, California. To read the full news, click here.
GE GE today announced more than $3 billion in new customer agreements spanning its Energy business. To read the full news, click here.
PROS PRO, today announced an expanded partnership agreement with the European Pricing Platform. To read the full news, click here.
Health Care Service Corporation, WellPoint Inc WLP, and Blue Cross Blue Shield of Michigan announced today a joint effort to offer a nationwide private exchange and defined contribution solution for employers to use in managing their health benefit offerings. To read the full news, click here.

Market News and Data brought to you by Benzinga APIs

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