Market Overview

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

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

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on motor vehicle sales for April will be released today. The Challenger job-cut report for April is schedule for release at 7:30 a.m. ET. Data on initial jobless claims for the latest week and nonfarm productivity for the first quarter will be released at 8:30 a.m. ET. Data on March factory orders will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 2 points to 26,392, while the Standard & Poor’s 500 index futures rose 2.9 points to 2,926.00. Futures for the Nasdaq 100 index climbed 18.5 points to 7,775.00.

Oil prices traded lower as Brent crude futures fell 1 percent to trade at $71.44 per barrel, while US WTI crude futures dropped 0.7 percent to trade at $62.89 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 mostly higher today, with the Spanish Ibex Index falling 0.8 percent, STOXX Europe 600 Index declining 0.3 percent and German DAX 30 index gained 0.1 percent. The UK's FTSE index was trading lower by 0.2 percent, while French CAC 40 Index fell 0.5 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.22 percent, Hong Kong’s Hang Seng Index gained 0.83 percent, China’s Shanghai Composite Index rose 0.52 percent and India’s BSE Sensex slipped 0.13 percent.

Broker Recommendation

Analysts at Wolfe Research downgraded Tesla Inc (NASDAQ: TSLA) from Outperform to Peer Perform.

Tesla shares fell 0.5 percent to $232.90 in pre-market trading.

Breaking News

  • AmerisourceBergen Corp. (NYSE: ABC) reported stronger-than-expected earnings for its second quarter and raised its FY19 earnings outlook. However, the company’s sales missed analysts’ estimates.
  • Tempur Sealy International Inc (NYSE: TPX) reported better-than-expected earnings for its first quarter and raised its FY19 outlook.
  • Cigna Corp (NYSE: CI) announced upbeat earnings for its first quarter.
  • QUALCOMM, Inc. (NASDAQ: QCOM) reported better-than-expected results for its second quarter, but issued lower guidance for the next quarter.

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

 

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