A Peek Into The Markets: US Stock Futures Climb Ahead Of Producer Price Index

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Producer Price Index for December and the Empire State manufacturing index for January will be released at 8:30 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Rochester, MN at 11:30 a.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Plano, TX at 1:00 p.m. ET. Kansas City Federal Reserve Bank President Esther George is set to speak in Kansas City, MO at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 108 points to 23,975, while the Standard & Poor’s 500 index futures rose 9 points to 2,589.50. Futures for the Nasdaq 100 index surged 36.75 points to 6,581.75.

Oil prices traded higher as Brent crude futures rose 1.36 percent to trade at $59.79 per barrel, while US WTI crude futures climbed 1.25 percent to trade at $51.14 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.1 percent, STOXX Europe 600 Index gaining 0.21 percent and German DAX 30 index climbed 0.15 percent. The UK's FTSE index was trading higher by 0.29 percent, while French CAC 40 Index rose 0.25 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.96 percent, Hong Kong’s Hang Seng Index surged 2.02 percent, China’s Shanghai Composite Index jumped 1.36 percent and India’s BSE Sensex rose 1.3 percent.

Broker Recommendation

Analysts at Citigroup upgraded MEDNAX Inc MD from Neutral to Buy.

Mednax shares rose 0.29 percent to close at $34.88 on Monday.

Breaking News

• UnitedHealth Group Inc UNH reported stronger-than-expected earnings for its fourth quarter.
• IHS Markit Ltd INFO reported upbeat earnings for its fourth quarter, while sales missed estimates.
• Big 5 Sporting Goods Corporation BGFV reported stronger-than-expected sales for its fourth quarter. The company narrowed fourth quarter EPS guidance and issued strong FY18 EPS forecast.
• Dave & Buster's Entertainment Inc PLAY raised its earnings and sales outlook for FY18.