Market Overview

A Peek Into The Markets: US Stock Futures Rise; Home Depot Sales Miss Views

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A Peek Into The Markets: US Stock Futures Rise; Home Depot Sales Miss Views

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on housing starts and permits for October will be released at 8:30 a.m. ET. The Census Bureau quarterly services report for the third quarter and e-commerce retail sales report for the third quarter will be released at 10:00 a.m. ET. New York Federal Reserve Bank President John Williams is set to speak in Washington, DC at 9:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 50 points to 28,058 while the Standard & Poor’s 500 index futures traded rose 8.5 points to 3,130.25. Futures for the Nasdaq 100 index climbed 37 points to 8,370.50.

Oil prices traded lower as Brent crude futures fell 0.8% to trade at $61.94 per barrel, while US WTI crude futures fell 0.9% to trade at $56.52 a barrel.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.6%, STOXX Europe 600 Index rising 0.7% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading higher by 1.2%, while French CAC 40 Index rose 0.5%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.53%, Hong Kong’s Hang Seng Index gained 1.55%, China’s Shanghai Composite Index rose 0.85% and India’s BSE Sensex rose 0.46%.

Broker Recommendation

Analysts at Morgan Stanley upgraded Broadcom Inc (NASDAQ: AVGO) from Equal-Weight to Overweight and raised the price target from $298 to $367.

Broadcom shares rose 2.2% to $318.00 in pre-market trading.

Breaking News

  • Home Depot Inc (NYSE: HD) reported upbeat earnings for its third quarter, while sales missed estimates.
  • SAExploration Holdings Inc (NASDAQ: SAEX) shares jumped over 132% in pre-market trading after the company late Monday reported a combined $130 million of new projects om Alaska, Canada and the Middle East.
  • Woodward, Inc. (NASDAQ: WWD) reported weaker-than-expected results for its fourth quarter on Monday.
  • Ashland Global Holdings Inc (NYSE: ASH) reported downbeat earnings for its fourth quarter.

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

 

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