A Peek Into The Markets: US Stock Futures Mixed Ahead Of Earnings

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade. Amazon.com, Inc. AMZN will release earnings after the closing bell. The Challenger job-cut report for January is schedule for release at 7:30 a.m. ET. Data on initial jobless claims for the latest week and consumer spending for December will be released at 8:30 a.m. ET. The employment cost index for the fourth quarter is schedule for release at 8:30 a.m. ET. The Chicago PMI for January will be released at 9:45 a.m. ET, while data on new home sales for November will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average dropped 44 points to 24,924, while the Standard & Poor’s 500 index futures rose 1.5 points to 2,684.00. Futures for the Nasdaq 100 index climbed 28 points to 6,865.25.

Oil prices traded higher as Brent crude futures rose 0.57 percent to trade at $62.00 per barrel, while US WTI crude futures rose 0.07 percent to trade at $54.27 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 higher today, with the Spanish Ibex Index falling 0.22 percent, STOXX Europe 600 Index gaining 0.1 percent and German DAX 30 index gained 0.11 percent. The UK's FTSE index was trading higher by 0.5 percent, while French CAC 40 Index rose 0.28 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.06 percent, Hong Kong’s Hang Seng Index gained 1.08 percent, China’s Shanghai Composite Index rose 0.35 percent and India’s BSE Sensex climbed 1.87 percent.

Broker Recommendation

Analysts at Atlantic Equities upgraded Tiffany & Co. TIF from Neutral to Overweight.

Tiffany shares rose 0.41 percent to close at $87.98 on Wednesday.

Breaking News

• ConocoPhillips COP reported stronger-than-expected earnings for its first quarter.
• Sherwin-Williams Co SHW reported weaker-than-expected earnings for its fourth quarter.
• General Electric Company GE reported weaker-than-expected earnings for its fourth quarter, while sales exceeded estimates.
• Facebook, Inc. FB reported stronger-than-expected results for its fourth quarter.