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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings reports from several companies. US Services Purchasing Managers' Index for January will be released at 9:45 a.m. ET, while the ISM non-manufacturing composite index for January is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 92 points to 25,280, while the Standard & Poor’s 500 index futures rose 6.25 points to 2,727.50. Futures for the Nasdaq 100 index gained 16.75 points to 6,954.25.

Oil prices traded higher as Brent crude futures rose 0.6 percent to trade at $62.88 per barrel, while US WTI crude futures rose 0.9 percent to trade at $55.04 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.8 percent, STOXX Europe 600 Index gaining 0.8 percent and German DAX 30 index climbed 1.2 percent. The UK's FTSE index was trading higher by 1.39 percent, while French CAC 40 Index rose 0.9 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.19 percent, Hong Kong’s Hang Seng Index gained 0.21 percent, China’s Shanghai Composite Index rose 1.3 percent and India’s BSE Sensex climbed 0.09 percent.

Broker Recommendation

Analysts at Deutsche Bank upgraded Booking Holdings Inc BKNG from Hold to Buy.

Booking shares rose 1.31 percent to close at $1,860.99 on Monday.

Breaking News

• Centene Corp CNC reported stronger-than-expected results for its fourth quarter.
• Becton Dickinson and Co BDX reported better-than-expected earnings for its first quarter.
• Alphabet Inc GOOGL reported stronger-than-expected earnings and revenue for its fourth quarter. However, the company reported a 26 percent year-over-year rise in Q4 costs and expenses. Capital expenditures also increased 64 percent versus last year.
• WellCare Health Plans, Inc. WCG reported stronger-than-expected earnings for its fourth quarter and raised its FY19 earnings forecast.