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 consumer credit for July will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 64 points to 26,872 while the Standard & Poor’s 500 index futures rose 8.5 points to 2,989.25. Futures for the Nasdaq 100 index surged 21.5 points to 7,879.25.

Oil prices traded higher as Brent crude futures rose 0.8% to trade at $62.03 per barrel, while US WTI crude futures rose 0.9% to trade at $57.02 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.3%, STOXX Europe 600 Index climbing 0.1% and German DAX 30 index gaining 0.4%. The UK's FTSE index was trading lower by 0.3%, while French CAC 40 Index rose 0.1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.56%, Hong Kong’s Hang Seng Index fell 0.04%, China’s Shanghai Composite Index rose 0.84% and India’s BSE Sensex rose 0.44%.

Broker Recommendation

Analysts at Jefferies upgraded Chegg Inc CHGG from Hold to Buy and lowered the price target from $46 to $44.

Chegg shares fell 2.7% to close at $34.19 on Friday.

Breaking News

• CytoDyn Inc CYDY reported the FDA approval for its Phase 2 study of leronlimab.
• OrganiGram Holdings Inc OGI disclosed that it has received an approval from Health Canada for an additional 17 cultivation rooms.
• Kohl's Corporation KSS disclosed that its President Sona Chawla will step down from her role, effective October 18. The company also named Paul Gaffney as Senior Executive Vice President, Chief Technology Officer.
• Pioneer Power Solutions, Inc. PPSI reported a special cash dividend of $1.37 per share.