A Peek Into The Markets: US Stock Futures Surge, Crude Oil Up Over 1%

Pre-open movers

U.S. stock futures higher lower in early pre-market trade. Data on durable goods orders for October and initial jobless claims for the latest week will be released at 8:30 a.m. ET. The University of Michigan's consumer sentiment index for November, the index of leading economic indicators for October and existing home sales data for October will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average jumped 111 points to 24,548.00, while the Standard & Poor’s 500 index futures traded rose 14.50 points to 2,654.25. Futures for the Nasdaq 100 index surged 52.5 points to 6,584.00.

Oil prices traded higher as Brent crude futures rose 1.57 percent to trade at $63.51 per barrel, while US WTI crude futures rose 1.72 percent to trade at $54.35 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET, while the EIA’s weekly report on natural gas stocks in underground storage is schedule for release at 12:00 p.m. ET. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.47 percent, STOXX Europe 600 Index climbing 0.40 percent and German DAX 30 index gained 0.69 percent. The UK's FTSE index was trading higher by 0.61 percent, while French CAC 40 Index rose 0.35 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.35 percent, Hong Kong’s Hang Seng Index climbed 0.51 percent, China’s Shanghai Composite Index rose 0.21 percent and India’s BSE Sensex declined 0.77 percent.

Broker Recommendation

Analysts at Jefferies downgraded Tarena International Inc TEDU from Hold to Underperform and lowered the price target from $8 to $5.80.

Tarena shares rose 1.38 percent to $7.36 in pre-market trading.

Breaking News

• Deere & Company DE reported weaker-than-expected results for its fourth quarter.
• Baozun Inc BZUN announced better-than-expected earnings for its third quarter.
• Foot Locker, Inc. FL reported stronger-than-expected earnings for its third quarter on Tuesday.
• Autodesk, Inc. ADSK reported upbeat earnings for its third quarter and issued strong fourth quarter and FY19 earnings guidance.