A Peek Into The Markets: US Stock Futures Rise Ahead Of Earnings, Economic Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Challenger job-cut report for May is schedule for release at 7:30 a.m. ET. Data on initial jobless claims for the latest week, international trade for April and nonfarm productivity for the first quarter May will be released at 8:30 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak at Boston College's 4th Annual Carroll School of Management Finance Conference at 8:40 a.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 73 points to 25,631, while the Standard & Poor’s 500 index futures rose 8.3 points to 2,836.00. Futures for the Nasdaq 100 index climbed 28 points to 7,256.50.

Oil prices traded higher as Brent crude futures rose 0.9 percent to trade at $61.17 per barrel, while US WTI crude futures rose 0.4 percent to trade at $51.87 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 higher today, with the Spanish Ibex Index rising 1 percent, STOXX Europe 600 Index gaining 0.7 percent and German DAX 30 index gaining 0.7 percent. The UK's FTSE index was trading higher by 0.7 percent, while French CAC 40 Index rose 0.7 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.01 percent, Hong Kong’s Hang Seng Index climbed 0.26 percent, China’s Shanghai Composite Index fell 1.17 percent and India’s BSE Sensex fell 1.38 percent.

Broker Recommendation

Analysts at Goldman Sachs upgraded United Continental Holdings Inc UAL from Neutral to Buy and announced a $108 price target.

United Continental shares rose 1.4 percent to $83.00 in pre-market trading.

Breaking News

• Science Applications International Corp SAIC reported upbeat earnings for its first quarter.
• Signet Jewelers Ltd. SIG reported better-than-expected results for its first quarter.
• Ciena Corporation CIEN reported stronger-than-expected earnings for its first quarter.
• At Home Group Inc HOME reported downbeat earnings for its first quarter and lowered its FY20 guidance.