Market Overview

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

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, ahead of earnings from Lincoln Electric Holdings, Inc. (NASDAQ: LECO), PPG Industries, Inc. (NYSE: PPG) and Keurig Dr Pepper Inc. (NYSE: KDP). The Dallas Fed manufacturing index for April is scheduled for release at 10:30 a.m. ET.

The U.S. is now the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. Total COVID-19 cases in the U.S. exceeded 965,930 with around 54,870 deaths. Spain confirmed a total of over 226,620 cases, while Italy reported a total of at least 197,670 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 259 points to 23,917 while the Standard & Poor’s 500 index futures traded rose 29.50 points to 2,859.00. Futures for the Nasdaq 100 index rose 116.5 points to 8,885.50.

Oil prices traded lower as Brent crude futures fell 3.8% to trade at $ 23.86 per barrel, while US WTI crude futures fell 15.6% to trade at $14.29 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 1.7%, STOXX Europe 600 Index rising 1.7% and German DAX 30 index gaining 2.4%. The UK's FTSE index was trading higher by 1.6%, while French CAC 40 Index rose 1.9%.

In Asian markets, Japan’s Nikkei rose 2.71%, Hong Kong’s Hang Seng Index rose 1.88%, China’s Shanghai Composite Index rose 0.25% and India’s BSE Sensex rose 1.33%.

Broker Recommendation

Analysts at Mizuho upgraded Twitter, Inc. (NYSE: TWTR) from Underperform to Neutral and announced a $28 price target.

Twitter shares rose 2.1% to $29.34 in pre-market trading.

Breaking News

  • Amedisys, Inc. (NASDAQ: AMED) agreed to acquire AseraCare Hospice.
  • Amphastar Pharmaceuticals, Inc. (NASDAQ: AMPH) disclosed that it received FDA approval for Epinephrine injection, USP 30mg/30mL (1mg/mL) Multiple Dose Vial.
  • Axsome Therapeutics (NASDAQ: AXSM) reported that AXS-05 achieved primary endpoint in the ADVANCE-1 pivotal Phase 2/3 trial in Alzheimer's disease agitation.
  • NVIDIA Corporation (NASDAQ: NVDA) reported that it has completed its acquisition of Mellanox Technologies, Ltd. (NASDAQ: MLNX).

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Posted-In: A Peek Into The MarketsNews Eurozone Futures Global Pre-Market Outlook Markets