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Market: US futures set to higher open after sharp losses

US futures are pointing to a higher open in the stock market today after ending positive on Thursday. The markets have been recovering from the sharp losses and ending the holiday week wild swings.

The S&P futures rose 0.29% to 2,502.25, Dow futures inched up 0.32% to 23,227 and Nasdaq moved up 0.13% to 6,332. Elsewhere, shares at Asian markets closed higher on Friday and the European stocks were trading mostly higher.

On the European economic front, data from the statistical office INE showed that Spain’s consumer price index advanced 1.2% year-on-year in December after rising 1.7% in November, due to a fall in the prices of fuels. On the Asian economic front, data from the Ministry of Economy and Industry showed that industrial production in Japan declined 1.1% on month in November after rising 2.9% in October.

On December 27, US ended higher, with Dow up 1.1% to 23,138.82, the Nasdaq inched up 0.4% to 6,579.49 and the S&P 500 rose 0.9% to 2,488.83. Activity remained relatively subdued after lingering concerns about the global economic outlook and the ongoing government shutdown.

Meanwhile, key economic data that will be released today include the December Chicago purchasing managers index and the November pending home sales figures from the National Association of Realtors. It is expected that the partial government shutdown could postpone the release of November data on advance trade in goods which has been scheduled for today.

On the corporate front, Aphria (APHA) stock jumped 10.95% in the premarket after speculations that Green Growth Brands is said to plan a hostile offer for the company. ADDvantage Technologies Group (AEY) stock climbed 10.16% in the premarket after its plans to sell cable TV segment operations to Leveling 8 for $10.8 million. Opko Health (OPK) stock soared 12.25% in the premarket after CEO Philip Frost has agreed to pay $5.5 million fine to the SEC and will remain as CO-Chairman and CEO.

Crude oil futures are up 0.61% to $44.88. Gold is trading down 0.12% to $1,279.60 and silver is up 0.56% to $15.395. On the currency front, the US dollar is trading down 0.51% at 110.373 yen. Against the euro, the dollar is up 0.14% to $1.1445. Against the pound, the dollar is up 0.19% to $1.2671.

 

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text.

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