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

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. US Services Purchasing Managers' Index for October is schedule for release at 9:45 a.m. ET, while the ISM's non-manufacturing index for October will be released at 10:00 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in New York City at 8:30 a.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Dallas, Texas at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average rose 15 points to 25256.0, while the Standard & Poor’s 500 index futures traded rose 1.95 points to 2,726.25. Futures for the Nasdaq 100 index rose 10 points to 6,990.25.

Oil prices traded lower as Brent crude futures fell 0.33 percent to trade at $72.59 per barrel, while US WTI crude futures fell 0.6 percent to trade at $62.76 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.72 percent, STOXX Europe 600 Index surging 0.22 percent and German DAX 30 index climbed 0.18 percent. The UK's FTSE index was trading higher by 0.25 percent, while French CAC 40 Index jumped 0.20 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 2.56 percent, Hong Kong’s Hang Seng Index rose 4.21 percent, China’s Shanghai Composite Index climbed 2.7 percent and India’s BSE Sensex fell 0.17 percent.

Broker Recommendation

Analysts at Piper Jaffray upgraded Under Armour Inc UAA from Neutral to Overweight and raised the price target from $20 to $32.

Under Armour shares rose 2.3 percent to $24.25 in pre-market trading.

Breaking News

• Welbilt Inc WBT reported weaker-than-expected earnings for its third quarter.
• SeaWorld Entertainment Inc SEAS reported stronger-than-expected earnings for its third quarter.
• Loews Corporation L reported downbeat earnings for its third quarter.
• Mitek Systems, Inc. MITK disclosed that its board has unanimously rejected unsolicited proposal from ASG Technologies.