A Peek Into The Markets: US Stock Futures Surge Ahead Of Producer Price Index

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Producer Price Index for November will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average surged 197 points to 24,687, while the Standard & Poor’s 500 index futures traded rose 20.5 points to 2,663.50. Futures for the Nasdaq 100 index gained 69.25 points to 6,768.50.

Oil prices traded higher as Brent crude futures rose 0.77 percent to trade at $60.43 per barrel, while US WTI crude futures gained 1.08 percent to trade at $51.55 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.5 percent, STOXX Europe 600 Index surging 1.63 percent and German DAX 30 index climbed 1.79 percent. The UK's FTSE index was trading higher by 1.5 percent, while French CAC 40 Index surged 1.73 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.34 percent, Hong Kong’s Hang Seng Index rose 0.07 percent, China’s Shanghai Composite Index climbed 0.37 percent and India’s BSE Sensex jumped 0.54 percent.

Broker Recommendation

Analysts at JP Morgan downgraded Pfizer Inc. PFE from Overweight to Neutral.

Pfizer shares fell 0.29 percent to $44.27 in pre-market trading.

Breaking News

• DSW Inc. DSW reported better-than-expected results for its third quarter and raised its full-year outlook.
• Ascena Retail Group Inc ASNA reported stronger-than-expected results for its first quarter on Monday.
• Casey’s General Stores Inc CASY reported upbeat earnings for its second quarter. The company cut FY19 comps guidance for fuel segment from 1.5-3 percent growth to down 1 percent to up 0.5 percent.
• Ra Pharmaceuticals Inc RARX reported a $100 million common stock offering.