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A Peek Into The Markets: US Stock Futures Higher Ahead Of Consumer Price Index

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A Peek Into The Markets: US Stock Futures Higher Ahead Of Consumer Price Index
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Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Consumer Price Index for November will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average surged 146 points to 24,568.00, while the Standard & Poor’s 500 index futures traded rose 18 points to 2,658.50. Futures for the Nasdaq 100 index gained 59 points to 6,775.00.

Oil prices traded higher as Brent crude futures rose 1.7 percent to trade at $61.20 per barrel, while US WTI crude futures gained 1.8 percent to trade at $52.58 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 higher today, with the Spanish Ibex Index rising 0.7 percent, STOXX Europe 600 Index surging 1.1 percent and German DAX 30 index climbed 1.1 percent. The UK's FTSE index was trading higher by 1.3 percent, while French CAC 40 Index surged 1.7 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 2.15 percent, Hong Kong’s Hang Seng Index rose 1.61 percent, China’s Shanghai Composite Index climbed 0.31 percent and India’s BSE Sensex jumped 1.79 percent.

Broker Recommendation

Analysts at Keefe Bruyette & Woods downgraded Bank of America Corp (NYSE: BAC) from Outperform to Market Perform and lowered the price target from $34 to $29.

Bank of America shares rose 0.9 percent to $24.79 in pre-market trading.

Breaking News

  • American Eagle Outfitters (NYSE: AEO) reported in-line earnings for its third quarter, while sales missed estimates. The company issued weak fourth-quarter earnings guidance.
  • Photronics, Inc. (NASDAQ: PLAB) reported upbeat results for its fourth quarter on Wednesday.
  • Dave & Buster’s Entertainment Inc (NASDAQ: PLAY) reported upbeat earnings for its third quarter. Comps were down 1.3 percent in the quarter and the company reaffirmed FY18 comps guidance down in the low single digit range.
  • Marinus Pharmaceuticals Inc (NASDAQ: MRNS) reported an offering of 12 million shares of common stock.

Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets

 

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