A Peek Into The Markets: U.S. Stock Futures Gain Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on motor vehicle sales for April will be released today. Data on personal income and consumer spending for March will be released at 8:30 a.m. ET, while the manufacturing PMI for April is schedule for release at 9:45 a.m. ET. Data on construction spending for March and the ISM manufacturing index for April will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 31 points to 20,905.00, while the Standard & Poor’s 500 index futures rose 4.50 points to 2,385.00. Futures for the Nasdaq 100 index gained 13.25 points to 5,593.75.

Oil prices traded lower as Brent crude futures fell 0.44 percent to trade at $51.82 per barrel, while US WTI crude futures dropped 0.39 percent to trade at $49.14 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index gaining 0.30 percent, STOXX Europe 600 Index falling 0.03 percent and German DAX 30 index dropping 0.05 percent. The UK's FTSE index was trading lower by 0.46 percent, while French CAC 40 Index declined 0.08 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.59 percent, Hong Kong’s Hang Seng Index fell 0.34 percent, China’s Shanghai Composite Index rose 0.08 percent and India’s BSE Sensex fell 0.37 percent.

Broker Recommendation

Analysts at Jefferies downgraded Western Digital Corp WDC from Buy to Hold.

Western Digital shares fell 2.32 percent to $87.00 in pre-market trading.

Breaking news

• DISH Network Corp DISH reported stronger-than-expected earnings for its first quarter, but revenue missed estimates.



• Headwaters Inc HW reported better-than-expected earnings for its second quarter on Friday.



• After hearing Neurotrope Inc NTRP would announce results of its Phase 2 study of potential Alzheimer’s Disease (AD) treatment Bryostatin-1, biotech investors have waited with baited breath through the weekend. On Monday, Neurotrope reported positive top-line results from its Phase 2 study of Bryostatin, which met its primary endpoint in patients that completed the full course of treatment, although the results weren't particularly encouraging.



• Wesco Aircraft Holdings Inc WAIR named Todd Renehan as CEO and Alex Murray as President and COO. The company also issued a weak forecast for the second quarter.