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

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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after the Dow Jones climbed around 300 points in the previous session. The yield on the 10-year Treasury note remained close to 1.62% on Monday. US President Biden, last week, signed the $1.9 trillion covid-19 relief package. Investors are awaiting earnings reports from Healthequity Inc (NASDAQ: HQY), Select Interior Concepts Inc (NASDAQ: SIC) and 360 DigiTech Inc (NASDAQ: QFIN).

The Empire State manufacturing index for March is scheduled for release at 8:30 a.m. ET, while the Treasury International Capital report for January will be released at 4:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 118 points to 32,890.00 while the Standard & Poor’s 500 index futures rose 10.50 points at 3,952.75. Futures for the Nasdaq 100 index rose 33 points to 12,966.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 29,438,770 with around 534,880 deaths. Brazil confirmed over 11,483,370 cases, while India reported a total of at least 11,385,330 confirmed cases.

Oil prices traded higher as Brent crude futures rose 1% to trade at $69.87 per barrel, while US WTI crude futures rose 1% to trade at $66.26 a barrel. The total number of active U.S. oil rigs slipped by 1 to 309 rigs this week, Baker Hughes Inc reported Friday.

A Peek Into Global Markets

European markets were higher today. The Spanish Ibex Index rose 0.9% and STOXX Europe 600 Index rose 0.6%. The French CAC 40 Index climbed 0.5%, German DAX 30 gained 0.3% while London's FTSE 100 rose 0.4%. Wholesale prices in Germany rose 2.3% year-over-year in February.

Asian markets traded mixed today. Japan’s Nikkei 225 rose 0.17%, China’s Shanghai Composite fell 0.96% and Hong Kong’s Hang Seng Index rose 0.33%. Australia’s S&P/ASX 200 rose 0.1%, while India’s BSE Sensex fell 1.3%. China's industrial production climbed 35.1% year-over-year in January-February, while retail trade jumped 33.8% year-on-year in the same period. China's new home prices increased by 4.3% year-over-year in February following a 3.9% increase in the prior month. Core machinery orders in Japan declined 4.5% in January versus a 5.2% rise in the earlier period. India's wholesale prices increased 4.17% year-over-year in February following a 2.03% increase in the previous month. Australia's new home sales climbed 22.9% to 5,091 units in February.


Breaking News

  • AstraZeneca Plc (NASDAQ: AZN) said that a review of safety data of more than 17 million people vaccinated with its COVID-19 vaccine in the European Union and the United Kingdom showed no evidence of an increased risk of blood clots.
  • United States Steel Corporation (NYSE: X) issued profit forecast for the first quarter. The company said it expects Q1 adjusted earnings of $0.61 per share, versus analysts’ estimates of $0.73 per share.
  • Roche Holding AG (OTC: RHHBY) said it has entered into a definitive agreement to acquire GenMark Diagnostics (NASDAQ:GNMK) for $24.05 per share in cash, or about $1.8 billion, on a fully diluted basis.
  • Xpeng Motors Inc (NYSE: XPEV) said Monday that it will receive $78 million in funding from the investment arm of a local Chinese government for business expansion purposes.

Check out other breaking news here


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Posted-In: A Peek Into The MarketsEarnings News Eurozone Futures Global Pre-Market Outlook Markets Best of Benzinga

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