US Futures Edge Higher After Dow Record; Markets Eye Fed Speakers

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US futures were slightly higher Friday after the Dow Industrial average closed at 16,009.99 yesterday, helped by lower jobless claims. Whereas previously positive jobs data may have caused investors to fear the U.S. Federal Reserve would find reason not only to taper its asset purchases that are propping up markets, but also tighten other economic policies, the minutes from the last meeting of Fed bankers suggest it would take a more sustained set of positive economic data for the central bank to increase lending rates and tighten policies across the board.

On the docket today are two Fed speakers, Kansas City Fed President Esther George will speak on banking supervision and Fed Governor Daniel Tarullo will speak on shadow banking. George has notably dissented from every FOMC statement so far this year. She said after the strong October jobs report that the FOMC was being too aggressive with the current level of monetary accommodation.

At 10:00 am, the Job Openings and Labor Turnover Survey is out. The report contains information on job openings, as well as estimates of the hiring, quit, and layoff & discharge rates.


In equities, Ariad Pharmaceuticals ( ARIA ) jumped 21% after saying that the European Medicines Agency's Committee for Human Medicinal Products adopted a positive view on continued use of its Iclusig drug for use in patients with leukaemias even as it made a series of recommendations on measures to help minimize the risk of occlusive vascular events. In retail, Foot Locker ( FL ) rose nearly 3% on better than expected Q3 earnings while ANN Inc. ( ANN ) was down over 2% after guiding for Q4 sales below street expectations.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.02%

-S&P 500 futures up 0.12%

-Nasdaq 100 futures up 0.22%

-Nasdaq-100 Pre-Market Indicator up 0.23%

GLOBAL SENTIMENT

Nikkei up 0.10%

Hang Seng up 0.49%

Shanghai Composite down 0.43%

FTSE-100 up 0.03%

DAX-30 up 0.20%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: higher

(+/-) Chip stocks: mixed

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(+/-) Drug stocks: unchanged

(+) Financial stocks: higher

(-) Retail stocks: lower

(+/-) Industrial stocks: unchanged

(+) Airlines: higher

(+) Autos: higher

UPSIDE MOVERS

(+) ATRM (+149.17%) Spikes on $2.1 million in orders

(+) ARUN (+11.40%) Earnings, guidance tops estimates

(+) POZN (+15.44%) Declares special cash distribution of $1.75 per share

DOWNSIDE MOVERS

(-) VMEM (-45.00%) Hits all-time low on Q4 profit warning

(-) NAT (-11.71%) Co will sell shares totaling $65 million

(-) NLSN (-1.64%) Says shareholder Valcon Acquisition to sell 30 mln of co's stock



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: ANN , ARIA , FL

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As of 12/26/2014, 04:15 PM


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