A Peek Into The Markets: US Stock Futures Up; Crude Oil Rises Over 1%

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, after recording strong gains last week. Fifteen Asia-Pacific nations signed the world's biggest trade deal on Sunday. Investors are awaiting earnings from JD.Com Inc JD, Baidu Inc BIDU and Tyson Foods, Inc. TSN.

The Empire State manufacturing index for November is scheduled for release at 8:30 a.m. ET. Federal Reserve Bank of San Francisco President Mary Daly is set to speak at 1:45 p.m. ET, while Federal Reserve Vice Chairman Richard Clarida will speak at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 244 points to 29,264.00 while the Standard & Poor’s 500 index futures traded rose 28.10 points to 3,610.00. Futures for the Nasdaq 100 index gained 65 points to 11,998.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 11,037,770 with around 246,210 deaths. India reported a total of at least 8,845,120 confirmed cases, while Brazil confirmed over 5,863,090 cases.

Oil prices traded higher as Brent crude futures rose 1.3% to trade at $43.34 per barrel, while US WTI crude futures rose 1.5% to trade at $40.75 a barrel. The total number of active U.S. oil rigs rose by 10 to 236 rigs this week, Baker Hughes Inc reported.

A Peek Into Global Markets


European markets were higher today. The Spanish Ibex Index rose 2.2% and STOXX Europe 600 Index rose 0.7%. The French CAC 40 Index rose 1.1%, while German DAX 30 gained 0.5% and London’s FTSE 100 rose 0.8%.

 

Asian markets traded higher today. Japan’s Nikkei 225 rose 2.05%, China’s Shanghai Composite climbed 1.11%, Hong Kong’s Hang Seng Index gained 0.86% and India’s BSE Sensex rose 0.7%. Australia's S&P/ASX 200 traded higher by 1.2%. Industrial production in Japan increased 3.9% in September, while the country’s economy advanced 5% in the third quarter. China's industrial production rose 6.9% year-over-year in October, while retail trade increased 4.3% year-over-year in October.

 


Broker Recommendation

Analysts at Jefferies downgraded Tilray, Inc. TLRY from Hold to Underperform and lowered the price target from $5.6 to $4.77.


Tilray shares fell 1.2% to $7.56 in pre-market trading.

 

Breaking News

  • Walmart Inc WMT has sold a majority of its stake in the Japanese supermarket chain Seiyu to investment firm KKR & Co, Inc KKR and local e-commerce conglomerate Rakuten in a $1.65 billion (JPY 172.5 billion) deal.
  • PNC Financial Services Group Inc PNC agreed to buy Spanish bank Banco Bilbao Vizcaya Argentaria SA’s U.S. business in an $11 billion all-cash deal.
  • Johnson & Johnson JNJ started the two-dose Phase 3 trial of its experimental COVID-19 vaccine, dubbed "ENSEMBLE 2."
  • Bitcoin Cash (BCH) has split into two cryptocurrencies called Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN), CoinDesk reported Sunday.
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Posted In: EarningsNewsEurozoneFuturesSmall CapGlobalPre-Market OutlookMarketsA Peek Into The Markets
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