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A Peek Into The Markets: US Stock Futures Rise Ahead Of ADP Jobs Report

A Peek Into The Markets: US Stock Futures Rise Ahead Of ADP Jobs Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, after posting a rise in the earlier session. Investors are awaiting earnings reports from Campbell Soup Inc. (NYSE: CPB), American Eagle Outfitters Inc. (NYSE: AEO) and Express Inc. (NYSE: EXPR). The ADP national employment report for May will be released at 8:15 a.m. ET, while US Services PMI for May is scheduled for release at 9:45 a.m. ET. Data on factory orders for April and the ISM's non-manufacturing index for May will be released at 10:00 a.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world. Total coronavirus cases in the U.S. exceeded 1,831,820 with around 106,180 deaths. Russia reported a total of at least 423,180 confirmed cases, while Brazil confirmed over 555,380 cases.

Futures for the Dow Jones Industrial Average climbed 194 points to 25,895 while the Standard & Poor's 500 index futures traded rose 16.10 points to 3,093. Futures for the Nasdaq 100 index gained 39 points to 9,686.75.

Oil prices traded higher as Brent crude futures rose 0.9% to trade at $39.94 per barrel, while US WTI crude futures rose 1.2% to trade at $37.24 a barrel. The Energy Information Administration's weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.1% and STOXX Europe 600 Index gaining 1.1%. The UK's FTSE index was trading higher by 1.2%, while French CAC 40 Index rose 1.7% and German DAX 30 gained 1.9%.

In Asian markets, Japan's Nikkei rose 1.29%, Hong Kong's Hang Seng Index rose 1.37%, China's Shanghai Composite Index rose 0.07% and India's BSE Sensex rose 1.7%.

Breaking News

  • Lyft Inc. (NASDAQ: LYFT) disclosed a rise in its business following the lifting of coronavirus-led restrictions. Lyft's total number of rides climbed 26% in May versus the prior month. The company also said it expects adjusted EBITDA loss to not exceed $325 million if daily volumes in June remain at a similar level versus May.
  • Zoom Video Communications Inc (NASDAQ: ZM) reported stronger-than-expected results for its first quarter on Tuesday.
  • Amazon Inc. (NASDAQ: AMZN) is planning a summer sale in June, which would last anywhere between seven to 10 days to give its sellers a boost after they have been left reeling from the impacts of the COVID-19 pandemic..
  • Microchip Technology Inc. (NASDAQ: MCHP) raised its Q1 earnings and sales guidance for the first quarter.

Related Articles (AMZN + AEO)

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Posted-In: Earnings News Penny Stocks Eurozone Futures Global Pre-Market Outlook Markets

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