A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Jobless Claims

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on initial jobless claims for the recent week will be released at 8:30 a.m. ET. The Energy Information Administration’s weekly report on natural gas stocks and petroleum inventories will be released at 10:30 a.m. ET. Data on consumer credit for July will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 10 points to 18,524.00, while the Standard & Poor’s 500 index futures rose 1.25 points to 2,185.75. Futures for the Nasdaq 100 index rose 1.50 points to 4,830.50.

Oil prices traded higher as Brent crude futures rose 1.33 percent to trade at $48.62 per barrel, while US WTI crude futures also rose 1.67 percent to trade at $46.26 a barrel.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 0.91 percent, STOXX Europe 600 Index gaining 0.01 percent and German DAX 30 index dropping 0.18 percent. The UK's FTSE index was trading higher by 0.35 percent, while French CAC 40 Index declined 0.05 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.32 percent, Hong Kong’s Hang Seng Index rose 0.75 percent, China’s Shanghai Composite Index gained 0.13 percent and India’s BSE Sensex climbed 0.41 percent.

Broker Recommendation

Analysts at Piper Jaffray downgraded Nike Inc NKE from Overweight to Neutral.

Nike shares fell 1.66 percent to $56.76 in pre-market trading.

Breaking news

• Hewlett Packard Enterprise Co HPE posted better-than-expected Q3 earnings, but revenue missed estimates. Hewlett Packard Enterprise also announced it was spinning off and merging its software division with Britain’s Micro Focus International PLC, in a deal valued at roughly $8.8 billion. To read the full news, click here.



• Conn's Inc CONN reported a narrower-than-expected loss for its second quarter, but missed sales estimates.



• Sky Solar Holdings Ltd (ADR) SKYS delivered better than expected results for the second quarter. To read the full news, click here.



• Science Applications International Corp SAIC posted stronger-than-expected earnings for the second quarter.