A Peek Into The Markets: US Stock Futures Down; Dow Futures Fall Over 100 Points

Pre-open movers

U.S. stock futures traded lower in early pre-market trade. Data on motor vehicle sales for November will be released today.

Futures for the Dow Jones Industrial Average dipped 116 points to 27,673 while the Standard & Poor’s 500 index futures traded fell 12 points to 3,102.25. Futures for the Nasdaq 100 index declined 43.5 points to 8,272.50.

Oil prices traded flat as Brent crude futures rose 0.1% to trade at $60.90 per barrel, while US WTI crude futures rose 0.2% to trade at $56.05 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index dropping 0.2% and German DAX 30 index gaining 0.4%. The UK’s FTSE index was trading lower by 1%, while French CAC 40 Index fell 0.6%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.64%, Hong Kong’s Hang Seng Index dropped 0.20%, China’s Shanghai Composite Index rose 0.31% and India’s BSE Sensex fell 0.31%.

Broker Recommendation

Analysts at Citigroup upgraded Audentes Therapeutics Inc (NASDAQ: BOLD) from Sell to Neutral and raised the price target from $30 to $60.

Audentes Therapeutics shares rose 106.2% to $59.00 in pre-market trading.

Breaking News

Audentes Therapeutics Inc (NASDAQ: BOLD) agreed to be acquired by Astellas Pharma for $60/share in cash. Clearway Energy Inc (NYSE: CWEN) priced its 5.4 million share offering at $18.70 per share. Kodiak Sciences Inc (NASDAQ: KOD) reported a proposed $250 million common stock offering. Cleveland-Cliffs Inc (NYSE: CLF) announced plans to acquire AK Steel Holding Corporation (NYSE: AKS) for $3.36 per share.

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