Market Overview

A Peek Into The Markets: U.S. Stock Futures Mostly Flat; Fed Speakers In Focus

A Peek Into The Markets: U.S. Stock Futures Mostly Flat; Fed Speakers In Focus
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Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. Data on durable goods orders for August will be released at 8:30 a.m. ET. Minnesota Fed President Neel Kashkari will speak in Minneapolis, Minn at 8:45 a.m. ET, while Federal Reserve Chair Janet Yellen is set to testify before the House Financial Services Committee at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard will speak in St. Louis at 10:15 a.m. ET, while Chicago Federal Reserve Bank President Charles Evans is set to speak in St. Louis at 1:30 p.m. ET. Cleveland Federal Reserve Bank President Loretta Mester will speak in Cleveland, Ohio at 4:35 p.m. ET, and Kansas City Federal Reserve Bank President Esther George is set to speak in Kansas City at 7:15 p.m. ET.

Futures for the Dow Jones Industrial Average gained 5 points to 18,146.00, while the Standard & Poor’s 500 index futures slipped 0.50 points to 2,152.50. Futures for the Nasdaq 100 index rose 2 points to 4,862.75.

Oil prices traded higher as Brent crude futures gained 1.57 percent to trade at $46.69 per barrel, while US WTI crude futures also rose 1.25 percent to trade at $45.23 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.


A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.71 percent, STOXX Europe 600 Index gaining 0.78 percent and German DAX 30 index gaining 0.88 percent. The UK's FTSE index was trading higher by 0.81 percent, while French CAC 40 Index rose 0.87 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.31 percent, Hong Kong’s Hang Seng Index climbed 0.20 percent, China’s Shanghai Composite Index declined 0.34 percent and India’s BSE Sensex rose 0.24 percent.

Broker Recommendation

Analysts at Mizuho Securities downgraded Twitter Inc (NYSE: TWTR) from Neutral to Underperform.

Twitter shares fell 1.18 percent to $23.44 in pre-market trading.

Breaking news

  • BlackBerry Ltd (NASDAQ: BBRY) adjusted earnings topped estimates, but revenue fell shy of the expectations. The company lifted its outlook for the fiscal year. To read the full news, click here.
  • Nike Inc (NYSE: NKE) reported better-than-expected results for its first quarter. However, futures orders, up 7 percent on a currency-neutral basis, missed the Street’s expectations for an 8.3 percent growth. To read the full news, click here.
  • Cintas Corporation (NASDAQ: CTAS) reported upbeat results for its first quarter and issued a strong full year guidance.
  • Array Biopharma Inc (NASDAQ: ARRY) disclosed that it has priced its 18.4 million share offering at $6.25 per share.

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


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