Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of ADP, GDP Data

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A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of ADP, GDP Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The ADP national employment report for August will be released at 8:15 a.m. ET, while the Gross Domestic Product report for the second quarter is schedule for release at 8:30 a.m. ET. Federal Reserve Governor Jerome Powell is set to speak in Chicago at 9:15 a.m. ET.

Futures for the Dow Jones Industrial Average gained 30 points to 21,904.00, while the Standard & Poor’s 500 index futures rose 2 points to 2,449.00. Futures for the Nasdaq 100 index climbed 8.75 points to 5,878.50.

Oil prices traded lower as Brent crude futures fell 0.40 percent to trade at $51.79 per barrel, while US WTI crude futures declined 0.60 percent to trade at $46.16 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.63 percent, STOXX Europe 600 Index surging 0.58 percent and German DAX 30 index gaining 0.51 percent. The UK's FTSE index was trading higher by 0.41 percent, while French CAC 40 Index rose 0.49 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.74 percent, Hong Kong’s Hang Seng Index climbed 1.19 percent, China’s Shanghai Composite Index slipped 0.05 percent and India’s BSE Sensex climbed 0.82 percent.

Broker Recommendation

Analysts at Citigroup upgraded Ciena Corporation (NYSE: CIEN) from Neutral to Buy.

Ciena shares rose 0.55 percent to close at $23.87 on Tuesday.

Breaking news

  • Caleres Inc (NYSE: CAL) reported stronger-than-expected results for its second quarter on Tuesday.
  • The Medicines Company (NASDAQ: MDCO) reported the FDA approval of VABOMERE for the treatment of adult patients with complicated UTI including pyelonephritis.
  • Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) posted better-than-expected earnings for its second quarter.
  • Dycom Industries, Inc. (NYSE: DY) reported stronger-than-expected earnings for its fourth quarter, while sales missed estimates. The company also issued a weak forecast for the current quarter.

 

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Posted-In: A Peek Into The Markets CitigroupNews Eurozone Futures Global Pre-Market Outlook Markets