Skip to main content

Market Overview

A Peek Into The Markets: US Stock Futures Down; Bitcoin Hits New High

Share:
A Peek Into The Markets: US Stock Futures Down; Bitcoin Hits New High

Pre-open movers

U.S. stock futures traded lower in early pre-market trade after the Dow Jones recorded gains for the sixth straight session. Bitcoin prices surged to another record, trading above $47,000 on Tuesday amid overall strength in the cryptocurrency market following Tesla disclosing an investment in Bitcoin. Investors are awaiting earnings reports from Fox Corp (NASDAQ: FOX), Twitter Inc (NYSE: TWTR), Cisco Systems, Inc. (NASDAQ: CSCO) and Centene Corp (NYSE: CNC).

The NFIB small business optimism index for January is scheduled for release at 6:00 a.m. ET, while the Labor Department's JOLTS report for December is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of St. Louis President James Bullard will speak at 12:00 p.m. ET.

Futures for the Dow Jones Industrial Average fell 83 points to 31,185.00 while the Standard & Poor’s 500 index futures traded fell 8.25 points to 3,899.750. Futures for the Nasdaq 100 index fell 26.75 points to 13,656.25.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 27,097,100 with around 465,070 deaths. India reported a total of at least 10,847,300 confirmed cases, while Brazil confirmed over 9,524,640 cases.

Oil prices traded higher as Brent crude futures rose 0.5% to trade at $60.89 per barrel, while US WTI crude futures rose 0.5% to trade at $58.27 a barrel. The API’s report on crude oil stocks in the US will be released later during the day.

A Peek Into Global Markets

European markets were mostly lower today. The Spanish Ibex Index fell 0.4% and STOXX Europe 600 Index declined 0.1%. The French CAC 40 Index climbed 0.2%, German DAX 30 slipped 0.1% while London's FTSE 100 rose 0.1%. Germany’s trade surplus slipped to €14.8 billion in December from €15.1 billion a year ago, while current account surplus increased to EUR 28.2 billion from EUR 25.3 billion.

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.40%, China’s Shanghai Composite rose 2.01% and Hong Kong’s Hang Seng Index rose 0.53%. Australia’s S&P/ASX 200 fell 0.9%, while India’s BSE Sensex rose 0.8%. Car sales in China jumped 30% year-over-year to 2.5 million in January. National Australia Bank's index of business confidence surged to 10 in January from a revised reading of 5 in December, while Japan's cash earnings slipped 3.2% year-on-year for December.

Broker Recommendation

JP Morgan upgraded Twilio Inc (NYSE: TWLO) from Neutral to Overweight and raised the price target from $300 to $465.

Twilio shares rose 2.3% to $408.61 in pre-market trading.

Check out other major ratings here

 

Breaking News

  • Electronic Arts Inc. (NASDAQ: EA) announced plans to acquire Glu Mobile Inc. (NASDAQ: GLUU) for $2.1 billion in enterprise value.
  • Take-Two Interactive Software, Inc. (NASDAQ: TTWO) reported stronger-than-expected results for its third quarter. However, the company said it sees full-year revenue hitting $3.24 billion to $3.29 billion versus a street consensus of $3.3 billion. Full-year earnings per share are expected in a range of $4.08 to $4.18.
  • Sony Corp.’s (NYSE: SNE) next-gen gaming console, the PlayStation5, is launching in China in the second quarter of this year, subsidiary Sony Interactive Entertainment’s officials confirmed Monday.
  • Tesla Inc (NASDAQ: TSLA) reported that its China sales doubled on a year-on-year basis to $6.6 billion in 2020.

Check out other breaking news here

 

Related Articles (CSCO + CNC)

View Comments and Join the Discussion!

Posted-In: Earnings News Eurozone Futures Small Cap Global Pre-Market Outlook Markets Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com