Pre-open movers
U.S. stock futures traded higher in early pre-market trade. The S&P/Case-Shiller home price index for July will be released at 9:00 a.m. ET, while the Markit services PMI for September is schedule for release at 9:45 a.m. ET. The Conference Board’s Consumer Confidence Index for September will be released at 10:00 a.m. ET. Federal Reserve Board Vice Chair Stanley Fischer will speak in Washington, D.C. at 11:15 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 31 points to 18,044.00, while the Standard & Poor’s 500 index futures gained 4.50 points to 2,144.25. Futures for the Nasdaq 100 index rose 10.25 points to 4,826.00.
Oil prices traded higher as Brent crude futures dropped 2.05 percent to trade at $46.38 per barrel, while US WTI crude futures also fell 1.89 percent to trade at $45.06 a barrel.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.29 percent, STOXX Europe 600 Index declining 0.43 percent and German DAX 30 index dropping 0.90 percent. The UK's FTSE index was trading lower by 0.24 percent, while French CAC 40 Index fell 0.63 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.84 percent, Hong Kong’s Hang Seng Index climbed 1.09 percent, China’s Shanghai Composite Index gained 0.60 percent and India’s BSE Sensex fell 0.25 percent.
Broker Recommendation
Analysts at Goldman Sachs upgraded Eli Lilly and Co LLY from Neutral to Buy and raised the price target from $89.00 to $95.00.
Eli Lilly shares rose 1.71 percent to $80.88 in pre-market trading.
Breaking news
- FactSet Research Systems Inc. FDS reported weaker-than-expected earnings for its fourth quarter on Tuesday.
- EndoChoice Holdings Inc GI agreed to be acquired by Boston Scientific Corporation BSX for $8 per share in cash.
- SYNNEX Corporation SNX reported upbeat earnings for its third quarter and issued a strong forecast for the current quarter. The company also raised its quarterly dividend by 25 percent, to $0.25 per share.
- Thor Industries, Inc. THO reported better-than-expected results for its fourth quarter on Monday.
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