US Stock Futures Jump Ahead Of Economic Data

Related GNC Mid-Afternoon Market Update: Cray Shows Strength as Agilent Technologies Falls on Earnings Mid-Day Market Update: Bankrate Jumps On Upbeat Results; Weight Watchers Shares Dip Related AA Market Wrap For March 14: Ukraine Tension Drag Markets Lower UPDATE: Sterne Agee Initiates Coverage on Alcoa

Pre-open movers

US stock futures jumped in early pre-market trading, ahead of economic data. The Empire State manufacturing index for March will be released at 8:30 a.m. ET, while industrial production for January will be released at 9:15 a.m. ET. The NAHB housing market index for March will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 101 points to 16,093.00, while the Standard & Poor's 500 index futures rose 11.60 points to 1,844.50. Futures for the Nasdaq 100 index climbed 27.50 points to 3,648.50.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.92%, London's FTSE 100 index rising 0.42% and STOXX Europe 600 Index jumping 0.61%. German DAX 30 index climbed 0.61% and French CAC 40 Index surged 0.60%. Euro-zone consumer prices rose 0.3% in February from January.

Asian markets ended mostly lower today. Japan's Nikkei Stock Average declined 0.35%, Hong Kong's Hang Seng Index slipped 0.30% and China's Shanghai Composite Index climbed 0.96%.

Broker Recommendation

Analysts at Credit Suisse downgraded GNC Holdings (NYSE: GNC) from "buy" to "neutral." The target price for GNC Holdings has been lowered from $65 to $51.

GNC Holdings' shares closed at $46.55 yesterday.

Breaking news

Alcoa (NYSE: AA) is investing US$13 million to expand its wheel manufacturing plant in Europe, to meet growing demand for its lightweight, durable, low-maintenance aluminum truck wheels. To read the full news, click here. L & L Energy (NASDAQ: LLEN) announced today that its Special Independent Committee has appointed Mr. Nicholas Chen, Managing Partner at Pamir Law Group, to replace Mr. Mark Bartlett. To read the full news, click here. Five Prime Therapeutics (NASDAQ: FPRX) and Bristol-Myers Squibb (NYSE: BMY) announced today that they have signed a collaboration agreement for the discovery, development and commercialization of immuno-oncology therapies directed toward targets identified in two undisclosed immune checkpoint pathways using Five Prime's proprietary target discovery platform. To read the full news, click here. First Solar (NASDAQ: FSLR) on Sunday announced the completion of the 1.3MW(DC) solar photovoltaic (PV) power plant at Kitakyushu-shi. Powered by First Solar FS Series 3 Black PV modules, the plant will generate approximately 1,400 MWh of clean and safe solar electricity per year. To read the full news, click here.

Posted-In: Credit Suisse US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

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