A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The housing starts report for July is schedule for release at 8:30 a.m. ET. The Census Bureau quarterly services report for the second quarter and the University of Michigan's consumer sentiment index for August will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 249 points to 25,824 while the Standard & Poor’s 500 index futures rose 28.2 points to 2,876.75. Futures for the Nasdaq 100 index climbed 96.75 points to 7,593.00.

Oil prices traded higher as Brent crude futures rose 1.8% to trade at $59.29 per barrel, while US WTI crude futures rose 1.8% to trade at $55.46 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.1%, STOXX Europe 600 Index gaining 1.1% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading higher by 0.7%, while French CAC 40 Index rose 1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.06%, Hong Kong’s Hang Seng Index rose 0.94%, China’s Shanghai Composite Index climbed 0.29% and India’s BSE Sensex rose 0.10%.

Broker Recommendation

Analysts at Credit Suisse downgraded Tapestry, Inc. TPR from Outperform to Neutral and lowered the price target from $38 to $22.

Tapestry shares fell 1.3% to $19.20 in pre-market trading.

Breaking News

• Deere & Company DE reported weaker-than-expected earnings for its third quarter.
• Qudian Inc - ADR QD reported upbeat earnings for its second quarter.
• NVIDIA Corporation NVDA reported stronger-than-expected results for its second quarter on Thursday.
• Applied Materials, Inc. AMAT reported better-than-expected earnings for its third quarter.