A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Apple iPhone Launch

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Apple is expected to announce its 10th anniversary iPhone model on Tuesday. The Labor Department's JOLTS report for July is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 49 points to 22,066.00, while the Standard & Poor’s 500 index futures rose 4 points to 2,489.75. Futures for the Nasdaq 100 index climbed 11.75 points to 6,002.50.

Oil prices traded lower as Brent crude futures fell 0.06 percent to trade at $53.81 per barrel, while US WTI crude futures dropped 0.25 percent to trade at $47.95 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.29 percent, STOXX Europe 600 Index climbing 0.60 percent and German DAX 30 index gaining 0.57 percent. The UK's FTSE index was trading lower by 0.29 percent, while French CAC 40 Index surged 0.63 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.18 percent, Hong Kong’s Hang Seng Index climbed 0.06 percent, China’s Shanghai Composite Index rose 0.09 percent and India’s BSE Sensex rose 0.87 percent.

Broker Recommendation

Analysts at Deutsche Bank upgraded Alcoa Corp AA from Hold to Buy and raised the price target from $44.00 to $60.00.

Alcoa shares rose 4.36 percent to $45.50 in pre-market trading.

Breaking news

• Shire PLC (ADR) SHPG reported that it has received FDA Fast Track designation for SHP607 for the prevention of chronic lung disease in extremely premature infants.



• Layne Christensen Company LAYN reported stronger-than-expected results for its second quarter.



• SAGE Therapeutics Inc SAGE disclosed that its Phase 3 STATUS trial of brexalonone in super-refractory status epilepticus did not meet its primary endpoint.



• BioCryst Pharmaceuticals, Inc. BCRX reported a $80 million offering of common stock.