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 SNX and Tencent Music Entertainment Group 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. 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 CP announced plans to buy Kansas City Southern KSU in a $25 billion cash-and-stock deal.
Thoma Bravo’s blank-check company Thoma Bravo Advantage 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 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 NIO has signed an agreement with a government infrastructure firm to build battery-swap stations, according to CnEVPost.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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