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, after posting gains in the prior session. US Services Purchasing Managers' Index for June will be released at 9:45 a.m. ET, while the ISM's non-manufacturing index for June is scheduled for release 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 2,888,720 with around 129,940 deaths. Brazil confirmed over 1,603,050 cases, while India reported a total of at least 697,410 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 400 points to 26,159 while the Standard & Poor’s 500 index futures traded rose 39.85 points to 3,168.75. Futures for the Nasdaq 100 index rose 134 points to 10,489.75.

Oil prices traded higher as Brent crude futures rose 1.8% to trade at $43.58 per barrel, while US WTI crude futures rose 0.8% to trade at $40.96 a barrel.


A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 2.7% and STOXX Europe 600 Index gaining 1.6%. The UK's FTSE index was trading higher by 2.2%, while French CAC 40 Index gained 2% and German DAX 30 gained 2.1%.

In Asian markets, Japan’s Nikkei rose 1.83%, Hong Kong’s Hang Seng Index rose 3.81%, China’s Shanghai Composite Index gained 5.71% and India’s BSE Sensex rose 1.5%.

Broker Recommendation

Analysts at Baird downgraded The Cooper Companies, Inc. (NYSE: COO) from Outperform to Neutral and lowered the price target from $335 to $291.

Cooper Companies shares rose 0.9% to close at $290.07 on Thursday.

Breaking News

  • Uber Technologies Inc (NYSE: UBER) will acquire Postmates Inc, an online food delivery service, for $2.65 billion in an all-stock deal, Bloomberg reported.
  • OrganiGram Holdings Inc (NASDAQ: OGI) has announced a round of layoffs, which includes a staff reduction of 25%.
  • Dominion Energy Inc (NYSE: D) agreed to sell gas transmission and storage assets to Berkshire Hathaway Energy in an all-cash deal valued at $9.7 billion.
  • Luckin Coffee Inc - ADR (OTC: LKNCY) Chairman Charles Zhengyao Lu was ousted from his role at the company in a shareholders meeting on Sunday, Bloomberg reported.

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