Market Overview

A Peek Into The Markets: U.S. Stock Futures Edge Higher; All Eyes On Fed Decision

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A Peek Into The Markets: U.S. Stock Futures Edge Higher; All Eyes On Fed Decision
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Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Consumer Price Index and retail sales report for May will be released at 8:30 a.m. ET. Data on business inventories for April will be released at 10:00 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET, while the Fed Chair Janet Yellen will hold a press conference at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 23 points to 21,303.00, while the Standard & Poor’s 500 index futures rose 1.50 points to 2,439.50. Futures for the Nasdaq 100 index climbed 9 points to 5,768.25.

Oil prices traded lower as Brent crude futures fell 0.78 percent to trade at $48.34 per barrel, while US WTI crude futures declined 1.03 percent to trade at $45.98 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.27 percent, STOXX Europe 600 Index gaining 0.58 percent and German DAX 30 index gaining 0.76 percent. The UK's FTSE index was trading higher by 0.55 percent, while French CAC 40 Index rose 0.80 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.08 percent, Hong Kong’s Hang Seng Index rose 0.09 percent, China’s Shanghai Composite Index declined 0.73 percent and India’s BSE Sensex rose 0.17 percent.

Broker Recommendation

Analysts at Barclays downgraded Anadarko Petroleum Corporation (NYSE: APC) from Equal-Weight to Underweight and lowered the price target from $52.00 to $42.00.

Anadarko Petroleum shares fell 0.47 percent to $48.99 in pre-market trading.

Breaking news

  • Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) named Paul Clancy as its new CFO on Tuesday.
  • H & R Block Inc (NYSE: HRB) reported stronger-than-expected earnings for its fourth quarter and raised its quarterly dividend to $0.24 per share.
  • Zhonghong Zhuoye Group Co Ltd, which acquired a stake in SeaWorld Entertainment Inc (NYSE: SEAS), is now said to be in talks to acquire Brookdale Senior Living, Inc. (NYSE: BKD), according to sources as reported by Reuters. Zhonghong offered approximately $3 billion for Brookdale and the two parties entered into exclusive negotiations, the sources said.
  • Culp, Inc. (NYSE: CFI) reported upbeat results for its fourth quarter and announced a special dividend $0.21 per share.

Posted-In: Earnings News Eurozone Futures Management Global Pre-Market Outlook Markets

 

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