A Peek Into The Markets: US Stock Futures Gain Ahead Of Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings several companies. The FHFA's house price index for May will be released at 9:00 a.m. ET. Data on existing home sales for June and the Richmond Fed's manufacturing index for July will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 84 points to 27,260, while the Standard & Poor’s 500 index futures rose 8.25 points to 2,997.25. Futures for the Nasdaq 100 index gained 29 points to 7,953.75.

Oil prices traded lower as Brent crude futures fell 0.6% to trade at $62.86 per barrel, while US WTI crude futures fell 0.5% to trade at $55.95 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.1%, STOXX Europe 600 Index gaining 0.8% and German DAX 30 index gaining 1.5%. The UK's FTSE index was trading higher by 0.6%, while French CAC 40 Index rose 0.7%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.95%, Hong Kong’s Hang Seng Index rose 0.34%, China’s Shanghai Composite Index climbed 0.45% and India’s BSE Sensex fell 0.13%.

Broker Recommendation

Analysts at Stifel Nicolaus upgraded Snap Inc SNAP from Hold to Buy and raised the price target from $13 to $17.

Snap shares rose 3 percent to $14.57 in pre-market trading.

Breaking News

• The Coca-Cola Co KO reported upbeat earnings for its second quarter.
• Harley-Davidson Inc HOG reported better-than-expected earnings for its second quarter, but lowered its 2019 motorcycle shipments outlook.
• United Technologies Corporation UTX reported better-than-expected results for its second quarter.
• Quest Diagnostics Inc DGX reported better-than-expected earnings for its second quarter.