A Peek Into The Markets: US Stock Futures Gain, Crude Oil Up Over 2%

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Chattanooga, TN at 8:20 a.m. ET, while Chicago Federal Reserve Bank President Charles Evans will speak in Riverwoods, Illinois at 9:00 a.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak in Boston, Massachusetts at 11:30 a.m. ET. The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 51 points to 23,794.00, while the Standard & Poor’s 500 index futures traded rose 4 points to 2,576.25. Futures for the Nasdaq 100 index climbed 14.75 points to 6,571.75.

Oil prices traded higher as Brent crude futures rose 2.13 percent to trade at $59.97 per barrel, while US WTI crude futures climbed 2.29 percent to trade at $50.92 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 0.23 percent, STOXX Europe 600 Index climbing 0.94 percent and German DAX 30 index climbed 1.1 percent. The UK's FTSE index was trading higher by 0.98 percent, while French CAC 40 Index rose 1.1 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.1 percent, Hong Kong’s Hang Seng Index rose 2.27 percent, China’s Shanghai Composite Index climbed 0.71 percent and India’s BSE Sensex rose 0.64 percent.

Broker Recommendation

Analysts at Morgan Stanley downgraded Booking Holdings Inc BKNG from Overweight to Equal-Weight.

Booking Holdings shares fell 1.45 percent to close at $1,686.92 on Tuesday.

Breaking News

• Greenbrier Companies Inc GBX reported better-than-expected results for its first quarter.
• Lennar Corporation LEN reported upbeat earnings for its fourth quarter, while sales missed estimates.
• MSC Industrial Direct Co Inc MSM reported in-line earnings for its third quarter, while sales exceed views.
• Smart Global Holdings Inc SGH reported downbeat earnings for its first quarter and issued weak forecast for the second quarter.