US Stock Futures Edge Higher Ahead Of ADP Report

US stock futures traded higher in early pre-market trade, ahead of economic data. The Challenger job-cut report for June will be released at 7:30 a.m. ET, while the ADP national employment report for June will be released at 8:15 a.m. ET. Data on factory orders for May will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 14 points to 16,890.00, while the Standard & Poor's 500 index futures rose 1.50 points to 1,967.30. Futures for the Nasdaq 100 index climbed 3.25 points to 3,888.00.

European markets were mostly higher today, with the Spanish Ibex Index dropping 0.01%, STOXX Europe 600 Index surging 0.35%. German DAX 30 index rose 0.17%, French CAC 40 Index fell 0.06% and London's FTSE 100 Index gained 0.29%. Spanish jobless claims dropped by 122,684 in June from May. In Asian markets, Japan's Nikkei Stock Average rose 0.29%, Hong Kong's Hang Seng Index jumped 1.55%, China's Shanghai Composite Index surged 0.44% and India's BSE Sensex rose 1.27%. Australia's May exports dropped 5% y/y, while imports declined 1%.

Analysts at Deutsche Bank upgraded Bank of America

from “hold” to “buy.” The target price for Bank of America has been raised from $16.50 to $18. Bank of America's shares closed at $15.60 yesterday.