Market Overview

A Peek Into The Markets: US Stock Futures Surge Ahead Of Economic Reports

A Peek Into The Markets: US Stock Futures Surge Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on personal income and consumer spending for July will be released at 8:30 a.m. ET. The Chicago PMI for August is schedule for release at 9:45 a.m. ET, while 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 169 points to 26,547.00 while the Standard & Poor’s 500 index futures rose 19 points to 2,945.50. Futures for the Nasdaq 100 index gained 53 points to 7,765.00.

Oil prices traded lower as Brent crude futures fell 0.8% to trade at $60.01 per barrel, while US WTI crude futures fell 1.5% to trade at $55.85 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.


A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.5%, STOXX Europe 600 Index gaining 0.9% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading higher by 0.8%, while French CAC 40 Index climbed 0.9%.

In Asian markets, Japan’s Nikkei Stock Average rose 1.19%, Hong Kong’s Hang Seng Index rose 0.08%, China’s Shanghai Composite Index fell 0.16% and India’s BSE Sensex rose 0.71%.

Broker Recommendation

Analysts at Morgan Stanley downgraded Ulta Beauty Inc (NASDAQ: ULTA) from Overweight to Equal-Weight and lowered the price target from $395 to $275.

Ulta Beauty shares fell 25.6% to $251.12 in pre-market trading.

Breaking News

  • Big Lots, Inc. (NYSE: BIG) reported better-than-expected Q2 earnings and issued Q3 EPS guidance above analyst estimates.
  • JinkoSolar Holding Co., Ltd. (NYSE: JKS) reported stronger-than-expected results for its second quarter.
  • Akari Therapeutics PLC (NASDAQ: AKTX) disclosed that the FDA granted Orphan Drug Designation to the company for Nomacopan.
  • Ulta Beauty Inc (NASDAQ: ULTA) reported weaker-than-expected results for its second quarter and cut fiscal year 2019 earnings guidance.

Related Articles (BIG + AKTX)

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