A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on motor vehicle sales for May will be released today and data on April factory orders will be released at 10:00 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago, IL at 7:00 a.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 8:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Chicago, IL at 9:45 a.m. ET, while Federal Reserve Chairman Jerome Powell will speak in Chicago, IL at 9:55 a.m. ET. Federal Reserve Member of the Board of Governors Lael Brainard is set to speak in Chicago, IL at 3:45 p.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Chicago, IL at 6:45 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 113 points to 24,982, while the Standard & Poor’s 500 index futures rose 12.2 points to 2,761.75. Futures for the Nasdaq 100 index climbed 36.3 points to 7,030.00.

Oil prices traded lower as Brent crude futures fell 0.7 percent to trade at $60.85 per barrel, while US WTI crude futures fell 0.6 percent to trade at $52.93 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.8 percent, STOXX Europe 600 Index gaining 0.3 percent and German DAX 30 index dropping 0.9 percent. The UK's FTSE index was trading higher by 0.1 percent, while French CAC 40 Index rose 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.01 percent, Hong Kong’s Hang Seng Index declined 0.49 percent, China’s Shanghai Composite Index fell 0.96 percent and India’s BSE Sensex fell 0.46 percent.

Broker Recommendation

Analysts at Loop Capital upgraded Netflix, Inc. NFLX from Hold to Buy and raised the price target from $395 to $425.

Netflix shares rose 1 percent to $339.99 in pre-market trading.

Breaking News

• Tiffany & Co. TIF reported upbeat earnings for its first quarter, while sales missed estimates.
• Navistar International Corp NAV reported upbeat results for its second quarter.
• Box Inc BOX reported upbeat earnings for its first quarter, but issued weak FY20 sales guidance.
• Sientra Inc SIEN reported a $75 million follow-on offering of common stock.