Market Overview

A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Fed Speakers

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A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Fed Speakers

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, following the victory for Emmanuel Macron in the French Presidential Election. The Labor Department's JOLTS report for March is schedule for release at 10:00 a.m. ET, while data on wholesale trade inventories for March will be released at 10:00 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 9:00 a.m. ET, while Boston Federal Reserve Bank President Eric Rosengren will speak in New York at 1:00 p.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas at 4:15 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 29 points to 20,970.00, while the Standard & Poor’s 500 index futures rose 2 points to 2,397.00. Futures for the Nasdaq 100 index gained 3 points to 5,658.50.

Oil prices traded higher as Brent crude futures rose 0.41 percent to trade at $49.54 per barrel, while US WTI crude futures gained 0.39 percent to trade at $46.61 a barrel.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.10 percent, STOXX Europe 600 Index rising 0.50 percent and German DAX 30 index gaining 0.64 percent. The UK's FTSE index was trading higher by 0.64 percent, while French CAC 40 Index climbed 0.32 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.26 percent, Hong Kong’s Hang Seng Index rose 1.27 percent, China’s Shanghai Composite Index gained 0.06 percent and India’s BSE Sensex rose 0.02 percent.

Broker Recommendation

Analysts at KeyBanc downgraded Kate Spade & Co (NYSE: KATE) from Overweight to Sector Weight.

Kate Spade shares fell 0.11 percent to $18.36 in pre-market trading.

Breaking news

  • Discovery Communications Inc. (NASDAQ: DISCA) reported weaker-than-expected earnings for its first quarter.
  • Pandora Media Inc (NYSE: P) posted a narrower-than-expected loss for its first quarter, but issued a weak sales forecast for the current quarter. Pandora announced a $150 million investment by KKR and disclosed that the company is exploring strategic alternatives, including a sale.
  • Allergan plc (NYSE: AGN) posted upbeat earnings for its first quarter.
  • Hertz Global Holdings, Inc (NYSE: HTZ) reported a wider-than-expected loss for its first quarter on Monday.

 

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