Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher; GE Profit Beats Views

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A Peek Into The Markets: U.S. Stock Futures Edge Higher; GE Profit Beats Views
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Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in St. Paul, Minn. at 9:30 a.m. ET. The flash Composite PMI for April is schedule for release at 9:45 a.m. ET, while data on existing home sales for March will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 10 points to 20,538, while the Standard & Poor’s 500 index futures rose 2.50 points to 2,354.50. Futures for the Nasdaq 100 index gained 9 points to 5,451.75.

Oil prices traded lower as Brent crude futures fell 0.09 percent to trade at $52.94 per barrel, while US WTI crude futures fell 0.20 percent to trade at $50.61 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 mostly higher today, with the Spanish Ibex Index rising 0.54 percent, STOXX Europe 600 Index rising 0.20 percent and German DAX 30 index gaining 0.38 percent. The UK's FTSE index was trading higher by 0.03 percent, while French CAC 40 Index fell 0.12 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.03 percent, Hong Kong’s Hang Seng Index fell 0.06 percent, China’s Shanghai Composite Index rose 0.03 percent and India’s BSE Sensex fell 0.19 percent.

Broker Recommendation

Analysts at Argus downgraded Verizon Communications Inc. (NYSE: VZ) from Buy to Hold.

Verizon shares fell 0.54 percent to $48.15 in pre-market trading.

Breaking news

  • General Electric Company (NYSE: GE) reported better-than-expected earnings for its first quarter on Friday.
  • Mattel, Inc. (NASDAQ: MAT) reported weaker-than-expected results for its first quarter on Thursday.
  • Honeywell International Inc. (NYSE: HON) reported upbeat results for its first quarter on Friday.
  • Visa Inc (NYSE: V) posted stronger-than-expected results for its first quarter on Thursday.

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

 

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