Market Overview

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

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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, after closing mostly lower in the previous session. The Chicago Fed National Activity Index for May is scheduled for release at 8:30 a.m. ET, while data on existing home sales for May will be released at 10:00 a.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 2,280,960 with around 119,970 deaths. Russia reported a total of at least 591,460 confirmed cases, while Brazil confirmed over 1,083,340 cases.

Futures for the Dow Jones Industrial Average climbed 250 points to 25,779 while the Standard & Poor’s 500 index futures traded rose 31.60 points to 3,091.00. Futures for the Nasdaq 100 index rose 101.25 points to 10,024.75.

Oil prices traded mostly higher as Brent crude futures rose 0.1% to trade at $42.23 per barrel, while US WTI crude futures rose 0.1% to trade at $39.76 a barrel.

 

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.6% and STOXX Europe 600 Index declining 0.3%. The UK's FTSE index was trading lower by 0.4%, while French CAC 40 Index fell 0.3% and German DAX 30 slipped 0.2%.

In Asian markets, Japan’s Nikkei fell 0.18%, Hong Kong’s Hang Seng Index fell 0.54%, China’s Shanghai Composite Index slipped 0.08% and India’s BSE Sensex rose 1.2%.

Broker Recommendation

Analysts at KeyBanc downgraded Albemarle Corporation (NYSE: ALB) from Sector Weight to Underweight and announced a $60 price target.

Albemarle shares fell 1.2% to $77.40 in pre-market trading.

Breaking News

  • Evoke Pharma Inc (NASDAQ: EVOK) reported the FDA approval of GIMOTI.
  • American Airlines Group Inc (NASDAQ: AAL) announced plans to raise $3.5 billion in new financing. The airline will raise $1.5 billion by selling shares and convertible senior notes due 2025.
  • PG&E Corporation (NYSE: PCG) disclosed that that its Chapter 11 reorganization plan stands approved by a court in the Northern District of California, clearing the way for the company to emerge from bankruptcy.
  • Host Hotels and Resorts Inc (NYSE: HST) announced plans to temporarily suspend quarterly cash dividend in order to preserve liquidity.

 

 

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