A Peek Into The Markets: US Stock Futures Up Ahead Of Earnings, Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Caterpillar Inc. CAT, Pfizer Inc. PFE, PepsiCo, Inc. PEP Alphabet Inc. GOOGL and Ford Motor Company F. The Federal Open Market Committee will begin its two-day policy meeting today. An advance report on U.S. international trade in goods and data on wholesale inventories for March will be released at 8:30 a.m. ET. The S&P Corelogic Case-Shiller home price index for February will be released at 9:00 a.m. ET. The Conference Board’s consumer confidence index and the Richmond Fed manufacturing index for April will be released at 10:00 a.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 988,460 with around 56,250 deaths. Spain confirmed a total of over 229,420 cases, while Italy reported a total of at least 199,410 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 268 points to 24,267 while the Standard & Poor’s 500 index futures traded rose 27.85 points to 2,896.75. Futures for the Nasdaq 100 index rose 90 points to 8,914.25.

Oil prices traded lower as Brent crude futures fell 3% to trade at $22.37 per barrel, while US WTI crude futures fell 19.3% to trade at $10.32 a barrel.


A Peek Into Global Markets


European markets were mostly higher today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index rising 0.6% and German DAX 30 index gaining 0.6%. The UK's FTSE index was trading higher by 0.4%, while French CAC 40 Index rose 0.2%.

In Asian markets, Japan’s Nikkei slipped 0.06%, Hong Kong’s Hang Seng Index rose 1.22%, China’s Shanghai Composite Index fell 0.19% and India’s BSE Sensex rose 0.73%.


Broker Recommendation

Analysts at Piper Sandler downgraded Intuitive Surgical, Inc. ISRG from Overweight to Neutral and lowered the price target from $570 to $510.

Intuitive Surgical shares fell 0.4% to $514.98 in pre-market trading.


Breaking News

  • F5 Networks, Inc. FFIV reported upbeat results for its second quarter and issued strong outlook for the current quarter.
  • Tesla Inc. TSLA canceled its plans to restart production at its Fremont, California plant this week after asking workers last Friday to return to work..
  • Sanmina Corp SANM reported weaker-than-expected results for its second quarter and issued downbeat earnings forecast for the third quarter.
  • Keurig Dr Pepper Inc KDP reported stronger-than-expected results for its first quarter on Monday.
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The Markets
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...