Market Overview

A Peek Into The Markets: US Stock Futures Gain; Delta Air Beats Q2 Views


Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Consumer Price Index for June and data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Federal Reserve Chairman Jerome Powell is set to testify before the Senate Banking Committee at 10:00 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in Albany, NY at 11:00 a.m. ET. Federal Board of Governors Vice Chairman for Supervision Randal Quarles is set to speak in Washington, D.C. at 1:30 p.m. ET, while Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Aberdeen, South Dakota at 5:00 p.m. ET. The U.S. Treasury budget report for June is schedule for release at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 88 points to 26,948.00, while the Standard & Poor’s 500 index futures rose 8.1 points to 3,005.50. Futures for the Nasdaq 100 index gained 25 points to 7,953.75.

Oil prices traded higher as Brent crude futures rose 0.5% to trade at $67.32 per barrel, while US WTI crude futures rose 0.5% to trade at $60.71 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 lower today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index gaining 0.1% and German DAX 30 index dropping 0.3%. The UK's FTSE index was trading lower by 0.1%, while French CAC 40 Index rose 0.1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.51%, Hong Kong’s Hang Seng Index rose 0.81%, China’s Shanghai Composite Index rose 0.08% and India’s BSE Sensex rose 0.69%.

Broker Recommendation

Analysts at Wedbush upgraded Abercrombie & Fitch Co. (NYSE: ANF) from Underperform to Neutral.

Abercrombie & Fitch shares rose 1.5 percent to $17.34 in pre-market trading.

Breaking News

  • Delta Air Lines, Inc. (NYSE: DAL) reported better-than-expected results for its second quarter and raised its FY19 EPS forecast.
  • Fastenal Company (NASDAQ: FAST) reported weaker-than-expected results for its second quarter.
  • AAR Corp. (NYSE: AIR) reported better-than-expected results for its fourth quarter, but issued weak FY20 earnings outlook.
  • Exfo Inc (NASDAQ: EXFO) reported downbeat results for its third quarter and issued weak forecast for the fourth quarter.

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


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