A Peek Into The Markets: U.S. Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The National Association of Home Builders’ housing market index for September will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average surged 82 points to 18,133.00, while the Standard & Poor’s 500 index futures gained 8.30 points to 2,140.80. Futures for the Nasdaq 100 index rose 15.75 points to 4,830.00.

Oil prices traded higher as Brent crude futures gained 1.25 percent to trade at $46.34 per barrel, while US WTI crude futures also rose 1.33 percent to trade at $44.20 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.09 percent, STOXX Europe 600 Index gaining 0.99 percent and German DAX 30 index gaining 0.73 percent. The UK's FTSE index was trading higher by 1.42 percent, while French CAC 40 Index rose 1.44 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.70 percent, Hong Kong’s Hang Seng Index rose 0.92 percent, China’s Shanghai Composite Index gained 0.77 percent and India’s BSE Sensex rose 0.12 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded General Motors Company GM from Equal-weight to Overweight and raised the price target from $29.00 to $37.00.

General Motors shares rose 2.49 percent to $31.74 in pre-market trading.

Breaking news

• Tech Data Corporation TECD reached a deal with Avnet, Inc. AVT enabling it to buy the latter's Technology Solutions business. The transaction comprises cash component of $2.4 billion and 2.785 million shares of Tech Data resulting in a total value of about $2.6 billion. To read the full news, click here.



• Eldorado Resorts, Inc. ERI and Isle of Capri Casinos, Inc. ISLE struck a merger deal through which the former would buy the latter for $23 a share in cash or 1.638 shares. To read the full news, click here.



• Community Health Systems CYH confirmed that it is in preliminary discussions with potential acquirers.