A Peek Into The Markets: U.S. Stock Futures Rise Ahead Of Fed Meeting

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Federal Open Market Committee will begin its two-day policy meeting today. The Producer Price Index for May will be released at 8:30 a.m. ET. New York Federal Reserve President Willian Dudley is set to speak in Washington D.C. at 1:45 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 23 points to 21,249.00, while the Standard & Poor’s 500 index futures rose 4.25 points to 2,432.75. Futures for the Nasdaq 100 index climbed 10.25 points to 5,721.25.

Oil prices traded higher as Brent crude futures rose 0.19 percent to trade at $48.38 per barrel, while US WTI crude futures rose 0.20 percent to trade at $48.38 a barrel.


A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.47 percent, STOXX Europe 600 Index gaining 0.55 percent and German DAX 30 index gaining 0.45 percent. The UK's FTSE index was trading lower by 0.03 percent, while French CAC 40 Index rose 0.36 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.05 percent, Hong Kong’s Hang Seng Index rose 0.56 percent, China’s Shanghai Composite Index climbed 0.44 percent and India’s BSE Sensex rose 0.03 percent.


Broker Recommendation

Analysts at Goldman Sachs downgraded Shopify Inc (US) SHOP from Buy to Neutral.

Shopify shares fell 2.96 percent to $86.26 in pre-market trading.


Breaking news


  • Scotts Miracle-Gro Co SMG lowered its guidance for fiscal 2017.


  • Science Applications International Corp SAIC reported better-than-expected earnings for its first quarter, but revenue missed estimates.


  • pSivida Corp. PSDV disclosed that its Phase 3 trial for Durasert met primary endpoint.


  • Cavco Industries, Inc. CVCO posted strong results for its fourth quarter on Monday.


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