A Peek Into The Markets: US Stock Futures Edge Lower, Crude Oil Rises

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade. The Empire State manufacturing index for December is schedule for release at 8:30 a.m. ET, while the housing market index for December will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dipped 24 points to 24,089.00, while the Standard & Poor’s 500 index futures traded fell 1.50 points to 2,600.50. Futures for the Nasdaq 100 index declined 2.50 points to 6,599.25.

Oil prices traded higher as Brent crude futures rose 1.44 percent to trade at $61.15 per barrel, while US WTI crude futures climbed 1.19 percent to trade at $51.81 a barrel.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.25 percent, STOXX Europe 600 Index declining 0.59 percent and German DAX 30 index dropped 0.44 percent. The UK's FTSE index was trading lower by 0.48 percent, while French CAC 40 Index declined 0.57 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.62 percent, Hong Kong’s Hang Seng Index fell 0.03 percent, China’s Shanghai Composite Index climbed 1.21 percent and India’s BSE Sensex rose 0.85 percent.

Broker Recommendation

Analysts at JP Morgan upgraded The Sherwin-Williams Company SHW from Neutral to Overweight and raised the price target from $380 to $415.

Sherwin-Williams shares rose 0.72 percent to $388.79 in pre-market trading.

Breaking News

• Canadian Solar CSIQ reported a 10-year power purchase agreement with TrailStone for its PV plant in Sicily, Italy.
• The Boeing Company BA announced plans to acquire 80 percent of Embraer S.A. ERJ for $4.2 billion.
• Amgen, Inc. AMGN disclosed that the FDA has approved Nplate for use in pediatric patients with immune thrombocytopenia.
• Hitachi agreed to acquire the power grid division of ABB Ltd ABB. Hitachi will acquire 80.1 percent of the power-grid unit with an enterprise value of $11 billion.