Market Overview

A Peek Into The Markets: US Stock Futures Flat, Apple Earnings In Focus

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A Peek Into The Markets: US Stock Futures Flat, Apple Earnings In Focus
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Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Apple Inc. (NASDAQ: AAPL) is expected to release quarterly earnings after the closing bell. Data on motor vehicle sales for April will be released today. The Federal Open Market Committee will begin its two-day policy meeting today. The manufacturing PMI for April will be released at 9:45 a.m. ET. The ISM manufacturing index for April and data on construction spending for March will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average fell 7 points to 24,124.00, while the Standard & Poor’s 500 index futures rose 1 point to 2,647.25. Futures for the Nasdaq 100 index climbed 1.5 points to 6,613.00.

Oil prices traded lower as Brent crude futures fell 0.80 percent to trade at $74.09 per barrel, while US WTI crude futures fell 1.11 percent to trade at $67.81 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.56 percent, STOXX Europe 600 Index climbing 0.07 percent and German DAX 30 index gaining 0.25 percent. The UK's FTSE index was trading higher by 0.47 percent, while French CAC 40 Index gained 0.68 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.18 percent, Hong Kong’s Hang Seng Index rose 1.74 percent, China’s Shanghai Composite Index gained 0.23 percent and India’s BSE Sensex rose 0.55 percent.

Broker Recommendation

Analysts at Jefferies upgraded Sprint Corporation (NYSE: S) from Underperform to Hold.

Sprint shares rose 0.09 percent to $5.61 in pre-market trading.

Breaking news

  • Huntsman Corporation (NYSE: HUN) reported better-than-expected earnings for its first quarter.
  • Aetna Inc. (NYSE: AET) reported upbeat earnings for its first quarter, while sales missed estimates.
  • WellCare Health Plans, Inc. (NYSE: WCG) reported stronger-than-expected earnings for its first quarter and raised its FY18 earnings guidance
  • Pfizer Inc. (NYSE: PFE) reported better-than-expected earnings for its first quarter, while sales missed views.

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

 

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