A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Earnings, Fed Decision

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from several companies. Data on new home sales for June 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.

Futures for the Dow Jones Industrial Average climbed 26 points to 21,586, while the Standard & Poor’s 500 index futures rose 3 points to 2,477.00. Futures for the Nasdaq 100 index gained 6 points to 5,939.75.

Oil prices traded higher as Brent crude futures rose 0.40 percent to trade at $50.40 per barrel, while US WTI crude futures gained 0.61 percent to trade at $48.18 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 0.35 percent, STOXX Europe 600 Index climbing 0.51 percent and German DAX 30 index gaining 0.31 percent. The UK's FTSE index was trading higher by 0.42 percent, while French CAC 40 Index rose 0.70 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.48 percent, Hong Kong’s Hang Seng Index climbed 0.33 percent, China’s Shanghai Composite Index gained 0.12 percent and India’s BSE Sensex rose 0.48 percent.

Broker Recommendation

Analysts at Goldman Sachs upgraded Biogen Inc BIIB from Neutral to Buy.

Biogen shares rose 2.38 percent to $289.70 in pre-market trading.

Breaking news

• The Coca-Cola Co KO reported better-than-expected earnings for its second quarter.



• Ford Motor Company F posted upbeat earnings for its second quarter on Wednesday.



• Chipotle Mexican Grill, Inc. CMG reported upbeat earnings for its second quarter, while sales missed estimates.



• Hershey Co HSY reported stronger-than-expected earnings for its second quarter.