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A Peek Into The Markets: US Stock Futures Mixed Ahead of Fed Speakers

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A Peek Into The Markets: US Stock Futures Mixed Ahead of Fed Speakers

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade amid concerns over a rise in Treasury yields. Investors are awaiting earnings results from SYNNEX Corporation (NYSE: SNX) and Tencent Music Entertainment Group (NYSE: TME).

The Chicago Fed National Activity Index for February is scheduled for release at 8:30 a.m. ET, while data on existing home sales for March will be released at 10:00 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak at 9:00 a.m. ET, while Federal Reserve Bank of Richmond President Thomas Barkin will speak at 10:30 a.m. ET. Federal Reserve Bank of San Francisco President Mary Daly is set to speak at 1:00 p.m. ET, while Federal Reserve Vice Chair for Supervision Randal Quarles will speak at 1:30 p.m. ET. Federal Reserve governor Michelle Bowman is set to speak at 7:15 p.m. ET.

Futures for the Dow Jones Industrial Average fell 84 points to 32,419.00 while the Standard & Poor’s 500 index futures rose 60.50 points at 12,905.00. Futures for the Nasdaq 100 index fell 2.25 points to 3,897.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 29,818,560 with around 542,350 deaths. Brazil confirmed over 11,998,230 cases, while India reported a total of at least 11,646,080 confirmed cases.

Oil prices traded lower as Brent crude futures fell 0.5% to trade at $64.20 per barrel, while US WTI crude futures fell 0.7% to trade at $61.00 a barrel. The total number of active U.S. oil rigs rose by 9 to 318 rigs this week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets

European markets were lower today. The Spanish Ibex Index fell 1.6% and STOXX Europe 600 Index slipped 0.2%. The French CAC 40 Index fell 0.7%, German DAX 30 gained 0.1% while London's FTSE 100 fell 0.4%.

Asian markets traded mostly lower today. Japan’s Nikkei 225 fell 2.07%, China’s Shanghai Composite gained 1.14% and Hong Kong’s Hang Seng Index fell 0.36%. Australia’s S&P/ASX 200 rose 0.7%, while India’s BSE Sensex fell 0.6%. Japan’s index of coincident economic indicators fell to 90.3 in January from a preliminary estimate of 91.7, while the index of leading economic indicators slipped to 98.5 in January from a preliminary reading of 99.

Broker Recommendation

Credit Suisse initiated coverage on Aemetis, Inc. (NASDAQ: AMTX) with an Outperform rating and announced a price target of $35.

 

Aemetis shares rose 0.8% to $20.01 in pre-market trading.

Check out other major ratings here

 

Breaking News

Canadian Pacific Railway Limited (NYSE: CP) announced plans to buy Kansas City Southern (NYSE: KSU) in a $25 billion cash-and-stock deal.

Thoma Bravo’s blank-check company Thoma Bravo Advantage (NYSE: TBA) reached an agreement to take Israeli mobile monetization company ironSource public through a merger that values the combined business at $11.1 billion.

A joint venture between Volkswagen AG (OTC: VWAGY) and China’s state-owned First Automobile Works delivered its first electric sports utility vehicle — the SUV ID.4 Crozz — to 12 customers over the weekend in Shenzhen.

NIO Limited (NASDAQ: NIO) has signed an agreement with a government infrastructure firm to build battery-swap stations, according to CnEVPost.

Check out other breaking news here

 

Related Articles (CP + AMTX)

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

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