A Peek Into The Markets: US Stock Futures Down Ahead Of Coca-Cola Earnings

Pre-open movers

U.S. stock futures traded lower in early pre-market trade after the Dow Jones jumped more than 160 points in the previous session. Investors are awaiting earnings results from Coca-Cola Co KO, M&T Bank Corporation MTB and IBM IBM and United Airlines Holdings Inc UAL.

Futures for the Dow Jones Industrial Average dropped 102 points to 33,979.00 while the Standard & Poor’s 500 index futures fell 9 points at 4,167.25. Futures for the Nasdaq 100 index fell 10 points to 14,019.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 31,670,040 with around 567,210 deaths. India reported a total of at least 15,061,800 confirmed cases, while Brazil confirmed over 13,943,070 cases.

Oil prices traded mostly flat as Brent crude futures fell 0.1% to trade at $66.75 per barrel, while US WTI crude futures rose 0.1% to trade at $63.16 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mostly higher today . The Spanish Ibex Index rose 0.4% and STOXX Europe 600 Index gained 0.2%. The French CAC 40 Index rose 0.2%, German DAX 30 slipped 0.1% while London's FTSE 100 rose 0.2%. The Eurozone current account surplus shrank to EUR 13.3 billion in February from EUR 14.1 billion in the year-ago month.

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.01%, China’s Shanghai Composite rose 1.49% and Hong Kong’s Hang Seng Index rose 0.47%. Australia’s S&P/ASX 200 rose 0.03%, while India’s BSE Sensex fell 1.7%. Industrial production in Japan fell 1.3% in February following a revised 3.1% gain a month ago. Japan's trade surplus widened to JPY 663.72 billion in March compared to JPY 7.49 billion in the year-ago month. Australia's new home sales climbed 90.3% to 9,691 units in March following a 22.9% surge a month ago.

Broker Recommendation

Keybanc maintained AECOM ACM with an Overweight and raised the price target from $60 to $78.

AECOM shares fell 0.4% to close at $67.05 on Friday.

Check out other major ratings here


Breaking News

  • Tesla Inc. TSLA reported a strong growth in China, with registrations surging to a record 34,635 in March from the 18,155 registrations in February, data from state-backed China Automotive Information Net showed, according to a Bloomberg report.
  • The audio-based social media startup Clubhouse announced Sunday it had secured an undisclosed amount of funding in a Series C round led by existing investor Andrew Chen, of Andressen Horowitz, as it looks to scale up in face of rising competition.
  • WPP plc WPP-owned Kantar is in talks to acquire Numerator from Vista Equity in a deal worth $1.5 billion, Reuters reported.
  • GAMCO Investors, Inc. GBL said it expects Q1 earnings of $0.55-$0.59 per share, compared to $0.42 per share in the first quarter of 2020.

Check out other breaking news here

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneFuturesSmall CapGlobalPre-Market OutlookMarketsA Peek Into The Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!