A Peek Into The Markets: US Stock Futures Up Ahead Of New-Home Sales Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on new home sales for July will be released at 10:00 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Jackson Hole, Wyoming at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 32 points to 26,257 while the Standard & Poor’s 500 index futures rose 5.45 points to 2,927.75. Futures for the Nasdaq 100 index climbed 21.5 points to 7,732.75.

Oil prices traded lower as Brent crude futures fell 0.2% to trade at $59.79 per barrel, while US WTI crude futures fell 0.1% to trade at $55.27 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.5%, STOXX Europe 600 Index gaining 0.4% and German DAX 30 index gaining 0.2%. The UK's FTSE index was trading higher by 0.7%, while French CAC 40 Index rose 0.3%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.4%, Hong Kong’s Hang Seng Index rose 0.5%, China’s Shanghai Composite Index rose 0.49% and India’s BSE Sensex rose 0.63%.

Broker Recommendation

Analysts at Guggenheim downgraded Macy's, Inc. M from Buy to Neutral.

Macy's shares fell 1.4% to $15.35 in pre-market trading.

Breaking News

• Buckle, Inc. BKE reported better-than-expected earnings for its second quarter.
• Foot Locker, Inc. FL reported worse-than-expected results for its second quarter.
• VMware, Inc.  VMW reported stronger-than-expected results for its second quarter and announced two different acquisition after Thursday's market close. The company entered into a definitive merger agreement with Carbon Black Inc CBLK. The deal will see VMware acquire Carbon Black through a cash tender offer for $26 per share. VMware also entered into a definitive agreement with Pivotal Software Inc PVTL to acquire the company for a blended price per share of $11.71.
• HP Inc HPQ reported upbeat earnings for its third quarter, while sales missed estimates. The company also announced Weisler will step down as CEO, while remaining a director on the company’s board. Enrique Lores will be appointed CEO effective Nov. 1, 2019.