A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Jobless Claims, Import Prices Data

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on initial jobless claims for the latest week and import prices for November will be released at 8:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 9 points to 24,575, while the Standard & Poor’s 500 index futures traded rose 2.75 points to 2,655.25. Futures for the Nasdaq 100 index gained 18.25 points to 6,787.25.

Oil prices traded lower as Brent crude futures fell 0.42 percent to trade at $59.90 per barrel, while US WTI crude futures declined 0.5 percent to trade at $50.90 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 higher today, with the Spanish Ibex Index rising 0.82 percent, STOXX Europe 600 Index declining 0.03 percent and German DAX 30 index climbed 0.1 percent. The UK's FTSE index was trading lower by 0.2 percent, while French CAC 40 Index surged 0.02 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.99 percent, Hong Kong’s Hang Seng Index rose 1.29 percent, China’s Shanghai Composite Index climbed 1.23 percent and India’s BSE Sensex jumped 0.42 percent.

Broker Recommendation

Analysts at JP Morgan downgraded Intuit Inc. INTU from Neutral to Underweight.

Intuit shares rose 1.49 percent to close at $209.18 on Wednesday.

Breaking News

• Eli Lilly And Co LLY reported Fast Track designation to the baricitinib development program for the treatment of systemic lupus erythematosus.
• Fred's, Inc. FRED reported a Q3 loss of $0.83 per share on sales of $306.413 million.
• Tailored Brands Inc TLRD reported upbeat earnings for its third quarter, while sales missed estimates. The company cut FY18 adjusted EPS guidance. The company also announced it received notification from a significant U.S. customer of a decision not to renew an existing agreement in 2019.
• Oxford Industries Inc OXM reported downbeat results for its third quarter and issued weak fourth quarter sales guidance.