Market Overview

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

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A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data
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Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on international trade for July will be released at 8:30 a.m. ET, while US Services Purchasing Managers' Index for August will be released at 9:45 a.m. ET. The ISM non-manufacturing report for August is schedule for release at 10:00 a.m. ET, while The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average rose 7 points to 21,771.00, while the Standard & Poor’s 500 index futures rose 0.25 points to 2,460.25. Futures for the Nasdaq 100 index gained 8 points to 5,947.50.

Oil prices traded higher as Brent crude futures rose 1.07 percent to trade at $53.95 per barrel, while US WTI crude futures gained 0.53 percent to trade at $48.92 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.47 percent, STOXX Europe 600 Index declining 0.39 percent and German DAX 30 index dropping 0.05 percent. The UK's FTSE index was trading lower by 0.64 percent, while French CAC 40 Index slipped 0.24 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.14 percent, Hong Kong’s Hang Seng Index declined 0.46 percent, China’s Shanghai Composite Index rose 0.03 percent and India’s BSE Sensex dropped 0.46 percent.

Broker Recommendation

Analysts at Cowen & Co. downgraded United Technologies Corporation (NYSE: UTX) from Outperform to Market Perform.

United Technologies shares fell 0.43 percent to $110.73 in pre-market trading.

Breaking news

  • G-III Apparel Group, Ltd. (NASDAQ: GIII) reported stronger-than-expected results for its second quarter and raised its FY18 forecast.
  • Hewlett Packard Enterprise Co (NYSE: HPE) reported stronger-than-expected results for its third quarter.
  • Navistar International Corp (NYSE: NAV) posted upbeat earnings for its third quarter on Wednesday.
  • Casey's General Stores Inc (NASDAQ: CASY) reported better-than-expected earnings for its first quarter, but sales missed estimates. The company also lowered its FY18 prepared food and fountain same-store sales guidance.

 

Posted-In: A Peek Into The Markets CowenNews Eurozone Futures Global Intraday Update Markets

 

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