A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade.

The Empire State manufacturing index for February and data on import and export prices for January will be released at 8:30 a.m. ET. Data on industrial production for January will be released at 9:15 a.m. ET, while the University of Michigan's consumer sentiment index for February is schedule for release at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Birmingham, Alabama at 9:55 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 21 points to 25,448.00, while the Standard & Poor’s 500 index futures rose 2.25 points to 2,745.50. Futures for the Nasdaq 100 index surged 5 points to 7,024.25.

Oil prices traded higher as Brent crude futures rose 0.3 percent to trade at $64.75 per barrel, while US WTI crude futures gained 0.3 percent to trade at $54.56 a barrel. The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.7 percent, STOXX Europe 600 Index gaining 0.8 percent and German DAX 30 index gained 1 percent. The UK's FTSE index was trading higher by 0.3 percent, while French CAC 40 Index gained 1.1 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.1 percent, Hong Kong’s Hang Seng Index declined 1.9 percent, China’s Shanghai Composite Index fell 1.4 percent and India’s BSE Sensex dropped 0.19 percent.

Broker Recommendation

Analysts at Citigroup downgraded The Coca-Cola Co KO from Buy to Neutral.

Coca-Cola shares rose 0.4 percent to $45.78 in pre-market trading.

Breaking News

• Moody's Corporation MCO reported weaker-than-expected earnings for its fourth quarter.
• PepsiCo, Inc. PEP reported in-line for its fourth quarter, while sales exceeded views. Pepsi raised its quarterly dividend from $0.9275 to $0.955 per share. The company projects a decline in its full-year profit.
• Deere & Company DE reported downbeat earnings for its first quarter, while sales exceeded estimates.
• NVIDIA Corporation NVDA reported upbeat earnings for its fourth quarter and issued strong sales forecast for its current fiscal year.