Futures Higher As Buyers Re-Emerge in Wake of Thursday Rout

By
A A A

Stock futures have recovered from Thursday's rout and are posting constructive gains this morning despite more downbeat Chinese economic data and a sharp decline in the dollar versus the yen. Gains were led by Europe which saw strength in retail and housing stocks, spilling into the pre-market session in the U.S. Although the decline in China's non-manufacturing PMI left the Shanghai and Hang Seng in the red, the Nikkei closed to the plus side, helping insulate European stocks from any selling pressure similar to Thursday.

There is no economic data scheduled for today but Fed officials at a banking conference in Philadelphia will give Wall Street something to sink their teeth into. Fed Governor Jeremy Stein and Philly Fed President Charles Plosser are speaking this morning and again this afternoon, at which time Chairman Bernanke will make an appearance. Also, Richmond Fed President Jeffrey Lacker will be delivering a speech on the economic outlook in Baltimore at 1:30ET.

-Dow Jones Industrial up 0.13%

-S&P 500 futures up 0.28%

-Nasdaq 100 futures up 0.19%

SENTIMENT

Nikkei up 0.69%

Hang Seng down 2.24%

Shanghai Composite down 1.24%

FTSE-100 up 0.33%

DAX-30 up 0.48%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+) Drug stocks: higher

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: higher

(+/-) Airlines: mixed

(+) Autos higher

UPSIDE MOVERS:

FEYE (+22.76%) FireEye has acquired Mandiant for $106.5 million, boosts guidance.

RSOL (+6.58%) RGS Energy division teamed up with energy project developer BlueWave Capital to deploy 4 new solar farms in Massachusetts.

RAD (+3.17%) December same store sales increased 2.9% over the prior-year period.

DOWNSIDE MOVERS:

RFIL (-20.99%) Q4 revenues decreased $0.9 million, or 9%, to $8.4 million as compared to $9.3 million in the same quarter of fiscal 2012

S (-2.79%) Downgraded to Sell from Hold by Stifel Nicolaus.

TMUS (-1.44%) Rival AT&T Inc. ( T ) said it is offering T-Mobile customers up to $450 in value per line when they switch to AT&T and trade in an eligible smartphone.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: T

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Cheap Ways to Sleep Better
Cheap Ways to Sleep Better          

Stocks

Referenced

64%

Most Active by Volume

105,679,298
  • $16.13 ▼ 0.19%
43,130,824
  • $101.32 ▲ 0.74%
24,108,376
  • $59.80 ▲ 7.34%
22,524,427
  • $26.15 ▼ 1.06%
22,194,114
  • $24.65 ▼ 0.96%
21,835,360
  • $99.05 ▲ 0.15%
20,872,575
  • $34.94 ▼ 0.60%
20,561,803
    $74.57 unch
As of 8/22/2014, 04:02 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com