A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Reports, Fed Speakers

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on durable goods orders for August will be released at 8:30 a.m. ET, while the pending home sales index for August is schedule for release at 10:00 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 9:15 a.m. ET, while St. Louis Federal Reserve Bank President James Bullard will speak in Kirksville, Missouri at 1:30 p.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in New York City at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 19 points to 22,278.00, while the Standard & Poor’s 500 index futures rose 4.25 point at 2,499.75. Futures for the Nasdaq 100 index gained 14 points to 5,905.25.

Oil prices traded mixed as Brent crude futures fell 0.39 percent to trade at $58.21 per barrel, while US WTI crude futures gained 0.10 percent to trade at $51.93 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index rising 1.24 percent, STOXX Europe 600 Index climbing 0.36 percent and German DAX 30 index gaining 0.50 percent. The UK's FTSE index was trading higher by 0.35 percent, while French CAC 40 Index rose 0.19 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.31 percent, Hong Kong’s Hang Seng Index rose 0.47 percent, China’s Shanghai Composite Index gained 0.05 percent and India’s BSE Sensex slipped 1.39 percent.

Broker Recommendation

Analysts at Canaccord Genuity upgraded Michael Kors Holdings Ltd KORS from Hold to Buy.

Michael Kors shares rose 2.38 percent to $48.15 in pre-market trading.

Breaking news

• Micron Technology, Inc. MU reported stronger-than-expected results for its fourth quarter.



• Cascadian Therapeutics Inc (USA) CASC disclosed that it has been granted Orphan Drug Designation for Tucatinib for the treatment of colorectal cancer.



• Nike Inc NKE reported better-than-expected earnings for its first quarter on Tuesday.



• Lannett Company, Inc. LCI disclosed that it has received the FDA approval for Oxycodone and Acetaminophen tablets.