Skip to main content

Market Overview

A Peek Into The Markets: US Stock Futures Rise; JPMorgan, Wells Fargo Earnings In Focus

Share:

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC). Data on import and export prices for March will be released at 8:30 a.m. ET. Federal Reserve Bank of St. Louis President James Bullard is set to speak at 11:05 a.m. ET, while Chicago Federal Reserve chief Charles Evans will speak at 12:30 p.m. ET.

The U.S. is now the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. Total COVID-19 cases in the U.S. exceeded 582,500 with around 23,640 deaths. Spain confirmed a total of over 170,000 cases, while Italy reported a total of at least 159,500 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 279 points to 23,588 while the Standard & Poor’s 500 index futures traded rose 29.1 points to 2,788.25. Futures for the Nasdaq 100 index surged 109 points to 8,436.25.

Oil prices traded lower as Brent crude futures fell 1.6% to trade at $31.24 per barrel, while US WTI crude futures fell 2.3% to trade at $21.90 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1%, STOXX Europe 600 Index climbing 0.6% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading lower by 0.5%, while French CAC 40 Index rose 0.1%.

In Asian markets, Japan’s Nikkei rose 3.13%, Hong Kong’s Hang Seng Index rose 0.56% and China’s Shanghai Composite Index rose 1.59%.

Broker Recommendation

Analysts at JP Morgan upgraded Genpact Limited (NYSE: G) from Neutral to Overweight.

Genpact shares fell 2.2% to close at $29.55 on Monday.

Breaking News

  • Amazon.com Inc. (NASDAQ: AMZN) is looking to hire another 75,000 workers across delivery and warehouses as it seeks to meet the increased demand for e-commerce during the coronavirus pandemic.
  • Roku Inc. (NASDAQ: ROKU) disclosed that it added around 3 million new users in the first quarter and issued strong sales forecast for the first quarter.
  • SoftBank Group Corp. (OTC: SFTBY) is forecasting record losses for the financial year that ended March 2020, as its Vision Fund and other investments flounder.
  • Inspire Medical Systems Inc (NYSE: INSP) reported commencement of $75 million common stock offering. The company withdrew its FY20 guidance and said it expects Q1 sales of $21.3 million.
 

Related Articles (AMZN + G)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com