A Peek Into The Markets: US Stock Futures Up; Jobs Report In Focus

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on nonfarm payrolls and unemployment rate for August will be released at 8:30 a.m. ET, while the Census Bureau quarterly services survey report for the second quarter is schedule for release at 10:00 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Zurich, Switzerland at 12:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 90 points to 26,791 while the Standard & Poor’s 500 index futures rose 9 points to 2,981.00. Futures for the Nasdaq 100 index surged 19.5 points to 7,875.00.

Oil prices traded lower as Brent crude futures fell 2.1% to trade at $59.70 per barrel, while US WTI crude futures fell 1.9% to trade at $55.22 a barrel. The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

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

In Asian markets, Japan’s Nikkei Stock Average rose 0.54%, Hong Kong’s Hang Seng Index gained 0.66%, China’s Shanghai Composite Index rose 0.46% and India’s BSE Sensex rose 0.92%.

Broker Recommendation

Analysts at Goldman Sachs upgraded Kellogg Company K from Neutral to Buy and raised the price target from $58 to $72.

Kellogg shares rose 0.3% to $63.04 in pre-market trading.

Breaking News

• Genesco Inc. GCO reported better-than-expected earnings for its second quarter and raised FY20 EPS guidance.
• Lululemon Athletica inc. LULU reported stronger-than-expected earnings for its second quarter and raised 2019 earnings guidance.
• Brady Corp BRC reported better-than-expected earnings for its second quarter, while sales missed views.
• Zumiez Inc. ZUMZ reported better-than-expected results for its second quarter and issued strong third-quarter guidance.