A Peek Into The Markets: U.S. Stock Futures Mostly Flat; Fed Minutes In Focus

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. The ADP national employment report for March will be released at 8:15 a.m. ET, while US Services Purchasing Managers' Index for March is schedule for release at 9:45 a.m. ET. The ISM non-manufacturing index for March will be released at 10:00 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Lawrence, Kansas at 8:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 8 points to 20,644.00, while the Standard & Poor’s 500 index futures fell 0.75 points to 2,355.75. Futures for the Nasdaq 100 index declined 2.50 points to 5,441.50.

Oil prices traded higher as Brent crude futures rose 0.79 percent to trade at $54.60 per barrel, while US WTI crude futures rose 0.88 percent to trade at $51.48 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.64 percent, STOXX Europe 600 Index gaining 0.09 percent and German DAX 30 index dropping 0.30 percent. The UK's FTSE index was trading higher by 0.09 percent, while French CAC 40 Index rose 0.12 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.27 percent, Hong Kong’s Hang Seng Index climbed 0.57 percent, China’s Shanghai Composite Index rose 1.48 percent and India’s BSE Sensex rose 0.21 percent.

Broker Recommendation

Analysts at Keefe Bruyette & Woods upgraded Citigroup Inc C from Market Perform to Outperform.

Citigroup shares rose 0.40 percent to $59.92 in pre-market trading.

Breaking news

• Panera Bread Co. PNRA agreed to be acquired by JAB for $7.5 billion.



• A Schulman Inc SHLM reported better-than-expected earnings for its second quarter on Tuesday.



• Walgreens Boots Alliance Inc WBA reported in-line earnings for its second quarter, while sales missed estimates. Walgreens also announced a $1 billion buyback plan.



• Landec Corporation LNDC posted upbeat results for its third quarter on Tuesday.