Stock Futures Sharply Higher As Syrian Tensions Ease, Chinese Economy Recovers

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Stock futures are sharply higher this morning as a possible end to tensions with Syria coupled with very strong economic data from China contributes to a near triple-digit gain in the Dow futures.

Stocks were higher across the globe in reaction to the news that Syria had accepted Russia's deal to put all its chemical weapons under international control, ending a month long conflict between Syria and the U.S. that had kept global financial markets on edge. In addition, China released economic data on industrial production and retail sales that left little question that the world's second largest economy is in the midst of a sustained recovery.

Changes in the composition of the Dow Industrials is also generating activity after it was announced early today that Hewlett Packard ( HPQ ), Alcoa (AA ) and Bank of America ( BAC ) will be replaced on September 20th by Goldman Sachs ( GS ), Nike ( NKE ) and Visa ( V ).

-Dow Jones Industrial up 0.62%

-S&P 500 futures up 0.68%

-Nasdaq 100 futures up 0.70%

SENTIMENT

Nikkei up 1.54%

Hang Seng up 0.99%

Shanghai Composite up 1.15%

FTSE-100 up 0.92%

DAX-30 up 1.91%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: Higher

(+) Chip stocks: Higher

(+) Software stocks: Higher

(+) Hardware stocks: Mixed

(+) Internet stocks: Higher

(+) Drug stocks: Higher

(+/-) Financial stocks: Mixed

(+) Retail stocks: Higher

(+) Industrial stocks: Higher

(+) Airlines: Higher

(+) Autos Higher

UPSIDE MOVERS:

AAPL (+0.37%) The tech-giant releasing details of its new, cheaper-priced iPhone

AMD (+3.25%) Stock extending Monday's late gains on reports that hedge funds had increased their positions in the chip-maker

CBK (+4.24%) Q2 loss narrowed to $0.01 versus a loss of $0.06 per share for the same quarter last year

DOWNSIDE MOVERS:

CROX (-8.38%) Trading was halted after the company warned that Q3 sales would be between $285 million and $295 million, below the Thomson Reuters mean for $305.08 million.

MODN (-33.81%) Lowered FY Q1 guidance to $20 million - $21 million versus $28 million estimates, stock quickly hit with a rash of downgrades

PVH (-3.887%) Reported a loss for Q2 as acquisition costs offset a gain in sales



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: BAC , GS , HPQ , NKE , V

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