A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Durable-Goods Orders Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on durable goods orders for February will be released at 8:30 a.m. ET, while the flash Composite PMI for March is schedule for release at 9:45 a.m. ET. Federal Reserve Bank of Chicago President Charles Evans is set to speak in Washington at 8:30 a.m. ET, while San Francisco Federal Reserve Bank President John Williams will speak at 8:30 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in Memphis, Tenn. at 9:05 a.m. ET. New York Federal Reserve Bank President William Dudley will speak in New York at 10:00 a.m. ET, while San Francisco Federal Reserve Bank President John Williams is set to speak in Washington, D.C. at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 37 points to 20,625.00, while the Standard & Poor’s 500 index futures rose 3.25 points to 2,343.25. Futures for the Nasdaq 100 index gained 10 points to 5,364.50.

Oil prices traded higher as Brent crude futures gained 0.53 percent to trade at $50.83 per barrel, while US WTI crude futures rose 0.71 percent to trade at $48.04 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.


A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.33 percent, STOXX Europe 600 Index declining 0.38 percent and German DAX 30 index dropping 0.17 percent. The UK's FTSE index was trading lower by 0.16 percent, while French CAC 40 Index slipped 0.46 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.93 percent, Hong Kong’s Hang Seng Index gained 0.13 percent, China’s Shanghai Composite Index rose 0.64 percent and India’s BSE Sensex rose 0.30 percent.


Broker Recommendation

Analysts at Needham downgraded Apple Inc. AAPL from Strong Buy to Buy and raised the price target from $150.00 to $165.00.

Apple shares rose 0.22 percent to $141.23 in pre-market trading.


Breaking news


  • Finish Line Inc FINL reported weaker-than-expected earnings for its fourth quarter on Friday.


  • Micron Technology, Inc. MU reported better-than-expected earnings for its second quarter and issued a strong forecast for the third quarter.


  • KB Home KBH reported stronger-than-expected results for its first quarter.


  • GameStop Corp. GME reported upbeat earnings for its fourth quarter, but sales missed estimates. The company also issued a weak earnings forecast for FY 2017.


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Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The MarketsNeedhamU.S. stock futures
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