Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade after closing mixed in the prior session. Investors are awaiting earnings results from United Natural Foods Inc (NYSE:UNFI), Campbell Soup Company (NYSE:CPB) and GameStop Corp. (NYSE:GME).

Data on wholesale inventories for April will be released at 10:00 a.m. ET. Analysts expect wholesale inventories rising 0.8% in April.

Futures for the Dow Jones Industrial Average fell 15 points to 34,571.00 while the Standard & Poor’s 500 index futures rose 1.75 points at 4,227.50. Futures for the Nasdaq 100 index gained 14 points to 13,825.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 33,391,090 with around 598,320 deaths. India reported a total of at least 29,089,060 confirmed cases, while Brazil confirmed over 17,037,120 cases.

Oil prices traded higher as Brent crude futures rose 0.5% to trade at $72.55 per barrel, while US WTI crude futures rose 0.5% to trade at $70.40 a barrel. The American Petroleum Institute, late Tuesday, reported a decline of 2.108 million barrels in crude oil inventories for the week ending June 4. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mixed today. The Spanish Ibex Index rose 0.1% and STOXX Europe 600 Index slipped 0.1%. The French CAC 40 Index rose 0.1%, London’s FTSE 100 fell 0.5% while German DAX 30 dropped 0.1%. German trade surplus surged to EUR 15.5 billion in April from EUR 3.5 billion in the year-ago period, while current account surplus widened to EUR 21.3 billion from EUR 10.0 billion.

Asian markets traded mostly lower today. Japan’s Nikkei 225 fell 0.35%, while China’s Shanghai Composite gained 0.32%. Hong Kong’s Hang Seng Index fell 0.13%, Australia’s S&P/ASX 200 fell 0.3% and India’s BSE Sensex slipped 0.4%. Building approvals in Australia dropped 8.6% to 21,482 units in April, while the Westpac-Melbourne Institute Index of Consumer Sentiment dropped 5.2% to a five-month low level of 107.2 in June. China's producer prices climbed 9.0% annually in May, while annual inflation rate increased to 1.3% in May from 0.9% a month ago.

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