Market Overview

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

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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. Data on durable goods orders for July and the Chicago Fed National Activity Index for July will be released at 8:30 a.m. ET. The Dallas Fed manufacturing index for August will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 165 points to 25,835 while the Standard & Poor’s 500 index futures rose 13.90 points to 2,869.50. Futures for the Nasdaq 100 index climbed 58.75 points to 7,563.25.

Oil prices traded higher as Brent crude futures rose 0.4% to trade at $59.58 per barrel, while US WTI crude futures rose 0.7% to trade at $54.55 a barrel.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.4%, STOXX Europe 600 Index gaining 0.1% and German DAX 30 index gaining 0.5%. The UK's FTSE index was trading lower by 0.5%, while French CAC 40 Index rose 0.6%.

In Asian markets, Japan’s Nikkei Stock Average fell 2.17%, Hong Kong’s Hang Seng Index fell 1.91%, China’s Shanghai Composite Index fell 1.17% and India’s BSE Sensex rose 2.16%.

Broker Recommendation

Analysts at Baird downgraded Foot Locker, Inc. (NYSE: FL) from Outperform to Neutral and lowered the price target from $54 to $37.

Foot Locker shares rose 0.7% to $34.22 in pre-market trading.

Breaking News

  • Pitney Bowes Inc. (NYSE: PBI) agreed to sell its software solutions business to Syncsort for $700 million in cash.
  • Hamilton Lane Incorporated (NASDAQ: HLNE) agreed to sell its stake in LeverPoint Management to GTCR.
  • The Medicines Company (NASDAQ: MDCO) disclosed that its Phase 3 trial of inclisiran met all primary and secondary efficacy endpoints.
  • PDC Energy, Inc. (NASDAQ: PDCE) announced a strategic combination with SRC Energy Inc, (NYSE: SRCI) in an all-stock transaction with implied value of $3.99 per share.

Posted-In: A Peek Into The MarketsEarnings News Eurozone Futures Global Pre-Market Outlook Markets

 

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