A Peek Into The Markets: US Stock Futures Rise, PepsiCo Earnings Beat Estimates

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Labor Department's JOLTS report for May is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average surged 54 points to 24,828.00, while the Standard & Poor’s 500 index futures traded rose 4.50 points to 2,791.75. Futures for the Nasdaq 100 index gained 20.75 points to 7,321.25.

Oil prices traded higher as Brent crude futures rose 1.43 percent to trade at $79.19 per barrel, while US WTI crude futures rose 0.56 percent to trade at $74.26 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.19 percent, STOXX Europe 600 Index climbing 0.27 percent and German DAX 30 index gaining 0.11 percent. The UK's FTSE index was trading higher by 0.22 percent, while French CAC 40 Index gained 0.41 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.66 percent, Hong Kong’s Hang Seng Index fell 0.02 percent, China’s Shanghai Composite Index climbed 0.44 percent and India’s BSE Sensex rose 0.85 percent.

Broker Recommendation

Analysts at KeyBanc downgraded Urban Outfitters, Inc. URBN from Overweight to Sector Weight.

Urban Outfitters shares fell 0.76 percent to $45.45 in pre-market trading.

Breaking News

• PepsiCo, Inc. PEP reported better-than-expected results for its second quarter.
• J M Smucker Co SJM announced plans to divest its U.S. baking business for $375 million.
• OncoCyte Corp OCX shares jumped over 50 percent in after-hours trading following 'encouraging' results from study of DetermaVu blood test.
• Cactus Inc WHD reported a 10 million share public offering of common stock.