A Peek Into The Markets: US Stock Futures Surge Ahead Of ADP Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The ADP national employment report for November is schedule for release at 8:15 a.m. ET, while US Services Purchasing Managers' Index for November will be released at 9:45 a.m. ET. The ISM non-manufacturing composite index for November is schedule for release at 10:00 a.m. ET. Federal Reserve Governor Randal Quarles is set to speak at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 124 points to 27,611 while the Standard & Poor’s 500 index futures traded rose 12.2 points to 3,103.25. Futures for the Nasdaq 100 index surged 47 points to 8,298.25.

Oil prices traded higher as Brent crude futures rose 1.8% to trade at $61.94 per barrel, while US WTI crude futures rose 1.6% to trade at $56.99 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.3%, STOXX Europe 600 Index climbing 1% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading higher by 0.2%, while French CAC 40 Index rose 1.3%.

In Asian markets, Japan’s Nikkei Stock Average fell 1.05%, Hong Kong’s Hang Seng Index dropped 1.25%, China’s Shanghai Composite Index fell 0.23% and India’s BSE Sensex rose 0.43%.

Broker Recommendation

Analysts at Raymond James upgraded Zimmer Biomet Holdings Inc ZBH from Outperform to Strong Buy and raised the price target from $160 to $170.

Zimmer Biomet shares rose 1.3% to $145.22 in pre-market trading.

Breaking News

• Tata Motors Limited ADR TTM shares surged more than 7% in pre-market trading after the company reported strong US Land Rover sales and announced it will be raising passenger vehicle prices starting in 2020.
• salesforce.com, inc. CRM reported upbeat results for its third quarter, but issued weak fourth quarter earnings guidance.
• GoPro Inc GPRO reported that its HERO8 Black has set a record for the best-selling GoPro ever over Black Friday/Cyber Monday. The company reported 30% year-over-year growth in total camera unit sell-through at major U.S. retailers.
• Workday Inc WDAY reported stronger-than-expected earnings for its third quarter.