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A Peek Into The Markets: U.S. Stock Futures Mostly Higher Ahead Of Economic Data, Yellen Speech

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A Peek Into The Markets: U.S. Stock Futures Mostly Higher Ahead Of Economic Data, Yellen Speech
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Pre-open movers

U.S. stock futures traded mostly higher in early pre-market trade. The Consumer Price Index for January, data on retail sales for January and the Empire State manufacturing index for February will be released at 8:30 a.m. ET. Data on industrial production for January will be released at 9:15 a.m. ET, while data on business inventories for December and the housing market index for February will be released at 10:00 a.m. ET. Federal Reserve Chair Janet Yellen is set to testify before the House Financial Services Committee at 10:00 a.m. ET. Boston Federal Reserve Bank President Eric Rosengren is set to speak at 12:00 p.m. ET, while Philadelphia Federal Reserve President Harker will speak at 12:45 p.m. ET. New York Federal Reserve Bank President William Dudley is set to speak in New York at 7:15 p.m. ET.

Futures for the Dow Jones Industrial Average gained 28 points to 20,510.00, while the Standard & Poor’s 500 index futures slipped 0.75 points to 2,336.25. Futures for the Nasdaq 100 index rose 0.50 points to 5,276.50.

Oil prices traded lower as Brent crude futures dropped 0.57 percent to trade at $55.65 per barrel, while US WTI crude futures fell 0.67 percent to trade at $53.35 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 gaining 0.59 percent, STOXX Europe 600 Index rising 0.32 percent and German DAX 30 index gaining 0.25 percent. The UK's FTSE index was trading higher by 0.57 percent, while French CAC 40 Index rose 0.60 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.03 percent, Hong Kong’s Hang Seng Index climbed 1.23 percent, China’s Shanghai Composite Index dropped 0.15 percent and India’s BSE Sensex fell 0.65 percent.

Broker Recommendation

Analysts at Wells Fargo downgraded Fossil Group Inc (NASDAQ: FOSL) from Market Perform to Underperform.

Fossil shares fell 19.11 percent to $18.50 in pre-market trading.

Breaking news

 

  • PepsiCo, Inc. (NYSE: PEP) reported upbeat earnings for its fourth quarter on Wednesday.
  • Integra Lifesciences Holdings Corp (NASDAQ: IART) offered to acquire Codman neurosurgery business from Johnson & Johnson (NYSE: JNJ) for $1.045 billion in cash.
  • American International Group Inc (NYSE: AIG) posted a wider loss for its fourth quarter and increased its stock buyback program by up to $3.5 billion.
  • Fossil Group Inc (NASDAQ: FOSL) reported lower earnings for its fourth quarter and issued a weak forecast for the current quarter.

Posted-In: Earnings News Eurozone Futures M&A Global Pre-Market Outlook Markets

 

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