A Peek Into The Markets: US Stock Futures Up Ahead Of ADP Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The ADP national employment report for September will be released at 8:15 a.m. ET. US Services Purchasing Managers' Index for September is schedule for release at 9:45 a.m. ET, while the ISM's non-manufacturing index for September will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in London, UK at 6:30 a.m. ET, while Richmond Federal Reserve Bank President Tom Barkin will speak in Charleston, West Virginia at 8:05 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Baltimore, MD at 12:00 p.m. ET, while Federal Reserve Board of Governors member Lael Brainard will speak in Chicago at 1:00 p.m. ET. Cleveland Federal Reserve Bank President Loretta Mester is set to speak in St. Louis at 2:15 p.m. ET, Federal Reserve Chairman Jerome Powell will speak in Washington D.C. at 4:00 p.m. ET and Dallas Federal Reserve Bank President Robert Kaplan will speak in Lawrence, Kansas at 8:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 78 points to 26,885, while the Standard & Poor’s 500 index futures traded rose 9.5 points to 2,938.00. Futures for the Nasdaq 100 index surged 28.5 points to 2,938.00.

Oil prices traded lower as Brent crude futures fell 0.17 percent to trade at $84.66 per barrel, while US WTI crude futures fell 0.07 percent to trade at $75.18 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 mostly higher today, with the Spanish Ibex Index rising 0.72 percent, STOXX Europe 600 Index climbing 0.48 percent and German DAX 30 index dropped 0.42 percent. The UK's FTSE index was trading higher by 0.62 percent, while French CAC 40 Index rose 0.52 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.66 percent, Hong Kong’s Hang Seng Index fell 0.13 percent, China’s Shanghai Composite Index climbed 1.06 percent and India’s BSE Sensex dropped 1.51 percent.

Broker Recommendation

Analysts at HSBC downgraded Nike Inc NKE from Buy to Hold.

Nike shares fell 0.63 percent to $82.25 in pre-market trading.

Breaking News

• Lennar Corporation LEN reported better-than-expected results for its third quarter.
• ADMA Biologics Inc ADMA disclosed that its subsidiary, ADMA BioCenters, received FDA approval for third plasma collection center.
• RPM International Inc. RPM reported downbeat earnings for its first quarter, while sales exceeded estimates.
• J C Penney Company Inc JCP named Jill Soltau its new CEO.