US Stock Futures Drop Ahead Of Jobless Claims Report

September 11, 2014

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Pre-open movers

US stock futures traded lower in early pre-market trade, ahead of jobless claims data. Data on weekly jobless claims will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average dipped 47 points to 17,011.00, while the Standard & Poor’s 500 index futures fell 5.40 points to 1,989.60. Futures for the Nasdaq 100 index dropped 8.50 points to 4,084.50.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index dropping 0.20%, STOXX Europe 600 Index gaining 0.18%. German DAX 30 index rose 0.18%, French CAC 40 Index fell 0.05% and London’s FTSE 100 Index dropped 0.17%.

In Asian markets, Japan’s Nikkei Stock Average gained 0.76%, Hong Kong’s Hang Seng Index dipped 0.17%, China’s Shanghai Composite Index fell 0.29% and India’s BSE Sensex dropped 0.23%. China’s consumer price index climbed 2% y/y in August, while the producer price index dropped 1.2% y/y in August. Australia’s unemployment rate fell to 6.1% in August, versus 6.4% in July.

Broker Recommendation
Analysts at Baird upgraded Vera Bradley (NASDAQ: VRA) from Neutral to Outperform. The target price for Vera Bradley has been raised from $26 to $28.

Vera Bradley’s shares closed at $22.74 yesterday.

Breaking news

Shares of Lululemon Athletica (NASDAQ: LULU) surged around 6.8% in pre-market trading after the company reported better-than-expected second-quarter earnings. To read the full news, click here.
R. R. Donnelley & Sons Company (NASDAQ: RRD) announced today that it has been awarded a $60 million multi-year agreement by Crain Communications that significantly expands the companies’ relationship through 2020. To read the full news, click here.
AbbVie (NYSE: ABBV) today announced results from a Phase 3 pivotal study demonstrating that HUMIRA® (adalimumab) is effective in reducing common clinical signs and symptoms in moderate-to-severe hidradenitis suppurativa (HS), specifically the number of abscesses and inflammatory nodules. To read the full news, click here.
CME Group (NASDAQ: CME) today announced that it has appointed Cees Vermaas as Managing Director and CEO of CME Europe Limited, its London-based derivatives exchange, effective 2 January 2015. To read the full news, click here.