Market Overview

A Peek Into The Markets: US Stock Futures Point To Higher Wall Street Open

A Peek Into The Markets: US Stock Futures Point To Higher Wall Street Open
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Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Labor Department's JOLTS report for December is schedule for release at 10:00 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak at Mississippi Valley State University at Itta Bena, Mississippi at 12:45 p.m. ET, while Kansas City Federal Reserve Bank President Esther George will speak in Kansas City at 5:30 p.m. ET. Cleveland Federal Reserve Bank President Loretta Mester is set to speak in Cincinnati, OH at 6:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 205 points to 25,222.00, while the Standard & Poor’s 500 index futures rose 19.75 points to 2,727.75. Futures for the Nasdaq 100 index surged 60.5 points to 6,973.00.

Oil prices traded higher as Brent crude futures rose 2 percent to trade at $62.72 per barrel, while US WTI crude futures gained 1.8 percent to trade at $53.35 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.97 percent, STOXX Europe 600 Index gaining 0.63 percent and German DAX 30 index gained 1.2 percent. The UK's FTSE index was trading higher by 0.35 percent, while French CAC 40 Index gained 1.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 2.61 percent, Hong Kong’s Hang Seng Index gained 0.1 percent, China’s Shanghai Composite Index rose 0.68 percent and India’s BSE Sensex slipped 0.66 percent.

Broker Recommendation

Analysts at Goldman Sachs downgraded Sogou Inc (NYSE: SOGO) from Buy to Neutral.

Sogou shares fell 1.5 percent to $5.83 in pre-market trading.

Breaking News

  • US Foods Holding Corp (NYSE: USFD) reported downbeat earnings for its fourth quarter, while sales exceeded views.
  • Chegg Inc (NYSE: CHGG) reported better-than-expected fourth-quarter results and issued strong first-quarter and FY2019 sales guidance.
  • Gilead Sciences, Inc. (NASDAQ: GILD) reported that topline data from phase 3 STELLAR-4 study of Selonsertib in compensated Cirrhosis due to NASH did not meet its primary endpoint.
  • Amkor Technology, Inc. (NASDAQ: AMKR) reported upbeat results for its fourth quarter, but issued weak first-quarter earnings and sales guidance.

Posted-In: A Peek Into The Markets US Stock FuturesNews Eurozone Futures Global Pre-Market Outlook Markets


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