Pre-open movers
U.S. stock futures traded higher in early pre-market trade, after closing mostly lower in the prior session. Investors are awaiting earnings results from JPMorgan Chase & Co. JPM, Citigroup Inc C and Wells Fargo & Co WFC. The Consumer Price Index for June will be released at 8:30 a.m. ET. Federal Reserve Governor Lael Brainardis set to speak at 2:00 p.m. ET, while Federal Reserve Bank of St. Louis President James Bullard will speak at 2:30 p.m. ET.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 3,364,540 with around 135,610 deaths. Brazil confirmed over 1,884,960 cases, while India reported a total of at least 906,750 confirmed cases.
Futures for the Dow Jones Industrial Average climbed 128 points to 26,096 while the Standard & Poor’s 500 index futures traded rose 13.75 points to 3,162. Futures for the Nasdaq 100 index climbed 46.50 points to 10,646.50.
Oil prices traded lower as Brent crude futures fell 1.5% to trade at $42.09 per barrel, while US WTI crude futures fell 1.8% to trade at $39.39 a barrel.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 1.4% and STOXX Europe 600 Index dropping 1.4%. The UK's FTSE index was trading lower by 0.5%, while French CAC 40 Index fell 1.7% and German DAX 30 dropped 1.4%.
In Asian markets, Japan’s Nikkei fell 0.87%, Hong Kong’s Hang Seng Index fell 1.14%, China’s Shanghai Composite Index slipped 0.83% and India’s BSE Sensex fell 1.6%.
Broker Recommendation
Analysts at Piper Sandler initiated coverage on Repare Therapeutics Inc. RPTX with an Overweight rating and a price target of $40.
Repare Therapeutics shares fell 4.5% to close at $24.01 on Monday.
Breaking News
- The Shopify rival, BigCommerce, on Monday said it has filed for an IPO (initial public offering) with the United States Securities and Exchange Commission.
- Altimmune Inc ALT reported a proposed public offering of common stock. However, no terms of the offering were disclosed.
- nCino, Inc. NCNO today priced its 8.06 million share IPO at $31 per share.
- Alphabet Inc. GOOGL is in talks to invest $4 billion in Reliance's digital arm, Bloomberg reported.
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