A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Walmart Earnings

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade, as investors are awaiting earnings from Walmart Inc WMT, Advance Auto Parts, Inc. AAP and Agilent Technologies Inc A. Data on housing starts and building permits for July will be released at 8:30 a.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 5,443,160 with around 170,540 deaths. Brazil confirmed over 3,359,570 cases, while India reported a total of at least 2,702,740 confirmed cases.

Futures for the Dow Jones Industrial Average climbed 36 points to 27,811 while the Standard & Poor’s 500 index futures traded rose 4.75 point to 3,384.50. Futures for the Nasdaq 100 index gained 31.50 points to 11,318.25.

Oil prices traded higher as Brent crude futures rose 0.2% to trade at $45.46 per barrel, while US WTI crude futures rose 0.1% to trade at $42.93 a barrel.

A Peek Into Global Markets

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

In Asian markets, Japan’s Nikkei fell 0.20%, Hong Kong’s Hang Seng Index rose 0.08% China’s Shanghai Composite Index rose 0.36% and India’s BSE Sensex rose 1.1%.

Broker Recommendation

Analysts at Piper Sandler initiated coverage on Seres Therapeutics, Inc. MCRB with an Overweight rating and announced a price target of $40..

Seres Therapeutics shares rose 0.9% to $26.40 in pre-market trading.

Breaking News

• Oracle Corporation ORCL has expressed interest to acquire ByteDance's social media platform TikTok in the US and other major markets including Canada, Australia and New Zealand, Financial Times reported Monday.
• Seanergy Maritime Holdings Corp. SHIP reported a common stock offering and a warrant offering. However, no details of the offering were disclosed.
• Forward Industries, Inc. FORD said it acquired substantially all the assets of Kablooe Design.
• Home Depot Inc HD reported better-than-expected earnings for its second quarter.