A Peek Into The Market Before The Trading Starts

Pre-open movers US stock futures are higher this morning, as investors are awaiting data on retail sales and the Beige Book economic report. Futures on the Dow Jones Industrial Average rose 64 points to 12,257.00 and S&P 500 index futures surged 8 points to 1,316.30. Futures on the Nasdaq 100 gained 15.25 points at 2,308.25. A Peek Into Global Markets European markets were higher today. While STOXX Europe 600 Index has gained 0.77%, London's FTSE 100 Index moved up 1.01%. Asian markets ended higher, with Japan's Nikkei Stock Average gaining 0.90%, Australia's S&P/ASX 200 moving up 0.19% and China's Shanghai Composite gaining 0.96%. Hong Kong's Hang Seng Index rose 0.66% and India's Sensex surged 2.25%. Broker Recommendation Analysts at UBS upgraded Fastenal Company FAST from “neutral” to “buy.” The target price for Fastenal has been raised from $63 to $72. Fastenal's shares fell 4.39% to close at $64.54 yesterday. Breaking news

• Shares of Graham Packaging Company Inc GRM jumped in pre-market trading after Silgan Holdings Inc SLGN agreed to purchase Graham Packaging for about $4.1 billion, including debt. To read the full news, click here.
• The International Monetary Fund (IMF) said Wednesday that the United States lacks a "credible strategy" to get its public finances in order, and could jeopardize the global economy. To read the full news, click here.
• JPMorgan Chase JPM today reported first-quarter 2011 net income of $5.6 billion, compared with net income of $3.3 billion in the first quarter of 2010. Earnings per share were $1.28, compared with $0.74 in the first quarter of 2010. To read the full news, click here.
• Arnaud Ajdler, a Senior Managing Director of Crescendo Partners (a New-York based value-oriented activist investment firm) and a shareholder of Exceed Company LTD. EDS, announced today that he sent a proposal to Exceed to be voted upon at the company's upcoming annual meeting. To read the full news, click here.

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