A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The flash Composite Purchasing Managers' Index for November is schedule for release at 9:45 a.m. ET. The University of Michigan's consumer sentiment index for November and the Kansas City Fed manufacturing index for November will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 8 points to 27,756 while the Standard & Poor’s 500 index futures traded rose 2.1 points to 3,106.00. Futures for the Nasdaq 100 index rose 15.5 points to 8,290.00.

Oil prices traded lower as Brent crude futures fell 0.4% to trade at $63.71 per barrel, while US WTI crude futures fell 0.8% to trade at $58.13 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 higher today, with the Spanish Ibex Index rising 0.5%, STOXX Europe 600 Index climbing 0.4% and German DAX 30 index gaining 0.1%. The UK's FTSE index was trading higher by 1%, while French CAC 40 Index rose 0.2%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.32%, Hong Kong’s Hang Seng Index gained 0.48%, China’s Shanghai Composite Index fell 0.63% and India’s BSE Sensex fell 0.19%.

Broker Recommendation

Analysts at Goldman Sachs upgraded Duke Energy Corp DUK from Sell to Buy and raised the price target from $88 to $93.

Duke Energy shares rose 0.7% to $87.25 in pre-market trading.

Breaking News

• Nordstrom, Inc. JWN reported better-than-expected earnings for its third quarter. The company also raised the lower end of FY19 EPS guidance.
• Atkore International Group Inc ATKR reported upbeat earnings for its fourth quarter, while sales missed estimates.
• Gap Inc GPS reported stronger-than-expected results for its third quarter on Thursday. The company also reaffirmed FY19 guidance.
• Splunk Inc SPLK reported upbeat results for its third quarter and raised FY20 sales guidance.