A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on durable goods orders for August, Gross Domestic Product for the second quarter, initial jobless claims for the latest week, U.S. international trade in goods for August and wholesale inventories for August will be released at 8:30 a.m. ET. The pending home sales index for August is schedule for release at 10:00 a.m. ET, while the Kansas City Fed manufacturing index for September will be released at 11:00 a.m. ET. Federal Reserve Bank of Dallas President Robert Kaplan is set to speak in Charlotte, North Carolina at 2:00 p.m. ET, while Federal Reserve Chairman Jerome Powell will speak at 4:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 18 points to 26,437, while the Standard & Poor’s 500 index futures traded rose 3.5 points to 2,915.00. Futures for the Nasdaq 100 index gained 21 points to 7,611.25.

Oil prices traded higher as Brent crude futures rose 0.66 percent to trade at $81.88 per barrel, while US WTI crude futures rose 1.08 percent to trade at $72.34 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.54 percent, STOXX Europe 600 Index falling 0.18 percent and German DAX 30 index dropped 0.26 percent. The UK's FTSE index was trading higher by 0.16 percent, while French CAC 40 Index fell 0.14 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.99 percent, Hong Kong’s Hang Seng Index fell 0.36 percent, China’s Shanghai Composite Index dropped 0.54 percent and India’s BSE Sensex slipped 0.6 percent.

Broker Recommendation

Analysts at RBC Capital downgraded Pandora Media Inc P from Outperform to Sector Perform.

Pandora shares fell 0.22 percent to $9.26 in pre-market trading.

Breaking News

• Accenture Plc ACN reported better-than-expected earnings for its fourth quarter and raised its semi-annual dividend. However, the company issued weak earnings forecast for FY19.
• Bed Bath & Beyond Inc. BBBY reported weaker-than-expected results for its second quarter. The company sees FY18 EPS at the low end of its previously guided range. Second-quarter comps were down 0.6 percent.
• McCormick & Company, Incorporated MKC reported upbeat earnings for its third quarter, while sales missed views.
• Veru Inc VERU reported a common stock offering. No size of the offering was disclosed.