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A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

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A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street
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Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from several companies. The Producer Price Index for April will be released at 8:30 a.m. ET, while data on wholesale trade inventories for March will be released at 10:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 1:15 p.m. ET.

Futures for the Dow Jones Industrial Average rose 125 points to 24,432.00, while the Standard & Poor’s 500 index futures rose 11.50 points to 2,681.75. Futures for the Nasdaq 100 index climbed 22 points to 6,841.00.

Oil prices traded higher as Brent crude futures rose 2.42 percent to trade at $76.66 per barrel, while US WTI crude futures rose 2.49 percent to trade at $70.78 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.07 percent, STOXX Europe 600 Index gaining 0.17 percent and German DAX 30 index gaining 0.05 percent. The UK's FTSE index was trading higher by 0.39 percent, while French CAC 40 Index fell 0.06 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.44 percent, Hong Kong’s Hang Seng Index rose 0.44 percent, China’s Shanghai Composite Index slipped 0.07 percent and India’s BSE Sensex rose 0.29 percent.

Broker Recommendation

Analysts at Cantor Fitzgerald upgraded Arrowhead Pharmaceuticals, Inc. (NASDAQ: ARWR) from Neutral to Overweight.

Arrowhead Pharmaceuticals shares fell 0.26 percent to close at $7.75 on Tuesday.

Breaking news

  • Delphi Technologies PLC (NYSE: DLPH) reported upbeat earnings for its first quarter.
  • Office Depot Inc (NASDAQ: ODP) reported in-line earnings for its first quarter, while sales exceeded estimates. The company also raised its FY18 guidance.
  • Walmart Inc (NYSE: WMT) announced plans to invest $16 billion in Flipkart for initial stake of 77 percent.
  • Tripadvisor Inc (NASDAQ: TRIP) reported stronger-than-expected results for its first quarter on Tuesday.

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

 

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