A Peek Into The Markets: U.S. Stock Futures Gain Ahead Of Manufacturing, Construction Spending Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The manufacturing PMI for September is schedule for release at 9:45 a.m. ET. The ISM manufacturing index for September and data on construction spending for August will be released at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in El Paso, Texas at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 40 points to 22,386.00, while the Standard & Poor’s 500 index futures rose 3.50 points at 2,519.50. Futures for the Nasdaq 100 index gained 12.75 points to 5,995.25.

Oil prices traded higher as Brent crude futures fell 1.29 percent to trade at $56.06 per barrel, while US WTI crude futures dropped 1.43 percent to trade at $50.93 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 1.44 percent, STOXX Europe 600 Index rising 0.28 percent and German DAX 30 index gaining 0.29 percent. The UK's FTSE index was trading higher by 0.56 percent, while French CAC 40 Index rose 0.06 percent.

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In Asian markets, Japan’s Nikkei Stock Average rose 0.22 percent, Hong Kong’s Hang Seng Index rose 0.48 percent, China’s Shanghai Composite Index gained 0.28 percent and India’s BSE Sensex rose 0.01 percent.

Broker Recommendation

Analysts at Jefferies downgraded PepsiCo, Inc. PEP from Buy to Hold.

PepsiCo shares fell 0.55 percent to $110.82 in pre-market trading.

Breaking news

Seattle Genetics SGEN disclosed that it has received the FDA Breakthrough Therapy Designation for ADCETRIS in frontline advanced Hodgkin lymphoma.

Shares of Nordstrom, Inc. JWN dropped over 6 percent in pre-market trading following NY Post report that talks to take the company private may fall apart.