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

U.S. stock futures traded slightly higher in early pre-market trade. Data on durable goods orders for October and initial jobless claims for the recent week will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for November is schedule for release at 10:00 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average climbed 25 points to 23,568.00, while the Standard & Poor's 500 index futures gained 0.75 points to 2,597.00. Futures for the Nasdaq 100 index rose 0.25 points to 6,379.75. US stock markets will be closed Thursday for the Thanksgiving holiday. Oil prices traded higher as Brent crude futures rose 0.93 percent to trade at $63.15 per barrel, while US WTI crude futures gained 1.69 percent to trade at $57.79 a barrel. The Energy Information Administration's weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET, while the EIA's weekly report on natural gas stocks in underground storage is schedule for release at 12:00 p.m. ET.

European markets were higher today, with the Spanish Ibex Index rising 0.65 percent, STOXX Europe 600 Index climbing 0.12 percent and German DAX 30 index dropping 0.31 percent. The UK's FTSE index was trading higher by 0.37 percent, while French CAC 40 Index rose 0.02 percent. In Asian markets, Japan's Nikkei Stock Average rose 0.48 percent, Hong Kong's Hang Seng Index climbed 0.62 percent, China's Shanghai Composite Index surged 0.59 percent and India's BSE Sensex climbed 0.25 percent.

Analysts at Longbow Research downgraded

from Buy to Neutral. Cracker Barrel shares fell 4.08 percent to close at $150.79 on Tuesday.