Market Overview

A Peek Into The Markets: US Stock Futures Rise Ahead of Bank of America Earnings

Share:
A Peek Into The Markets: US Stock Futures Rise Ahead of Bank of America Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Bank of America Corp (NYSE: BAC). Data on retail sales for March and the Empire State manufacturing index for April will be released at 8:30 a.m. ET. Data on business inventories for February and the housing market index for April will be released at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Florence, Alabama at 1:15 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 148 points to 24,484.00, while the Standard & Poor’s 500 index futures rose 15.70 points to 2,673.00. Futures for the Nasdaq 100 index gained 41.25 points to 6,682.00.

Oil prices traded lower as Brent crude futures fell 1.25 percent to trade at $71.67 per barrel, while US WTI crude futures fell 1.11 percent to trade at $66.64 a barrel.

 

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.09 percent, STOXX Europe 600 Index falling 0.06 percent and German DAX 30 index gaining 0.12 percent. The UK's FTSE index was trading lower by 0.47 percent, while French CAC 40 Index rose 0.11 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.26 percent, Hong Kong’s Hang Seng Index fell 1.60 percent, China’s Shanghai Composite Index declined 1.53 percent and India’s BSE Sensex rose 0.33 percent.

Broker Recommendation

Analysts at Wells Fargo upgraded Costco Wholesale Corporation (NASDAQ: COST) from Market Perform to Outperform.

Costco shares rose 1.10 percent to $190.99 in pre-market trading.

Breaking news

  • Eldorado Resorts, Inc. (NYSE: ERI) announced plans to buy Tropicana Entertainment for $1.85 billion in cash.
  • MGM Resorts International (NYSE: MGM) reported the sale of Grand Victoria Casino in Elgin, Illinois to Eldorado Resorts for $327.5 million in cash.
  • Pebblebrook Hotel Trust (NYSE: PEB) reported that it has raised offer for LaSalle Hotel Properties (NYSE: LHO) from $31 per share to $31.75 per share.
  • J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported in-line earnings for its first quarter, while sales exceeded estimates.

Posted-In: A Peek Into The Markets U.S. stock futuresNews Eurozone Futures Global Pre-Market Outlook Markets

 

Related Articles (COST + BAC)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com