Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade ahead of the key Jackson Hole Symposium later during the week. The S&P 500 and the Nasdaq closed at new highs in the previous session. Investors are awaiting earnings results from Dicks Sporting Goods Inc (NYSE:DKS), salesforce.com, inc. (NYSE:CRM), Ulta Beauty Inc (NASDAQ:ULTA) and Williams-Sonoma, Inc. (NYSE:WSM).

Data on durable goods orders for July will be released at 8:30 a.m. ET. Analysts expect durable goods orders declining 0.2% in July, while orders for core capital goods might rise 0.5%. The State Street Investor Confidence Index for August is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of San Francisco President Mary Daly is set to speak at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 13 points to 35,327.00 while the Standard & Poor’s 500 index futures rose 2.50 points to 4,485.00. Futures for the Nasdaq 100 index climbed 15.50 points to 15,371.00.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 38,075,080 with around 630,810 deaths. India reported a total of at least 32,512,360 confirmed cases, while Brazil confirmed over 20,614,860 cases.

A Peek Into Global Markets

European markets were mostly higher today. The Spanish Ibex Index rose 0.2% and STOXX Europe 600 Index gained 0.1%. The French CAC 40 Index rose 0.1%, London’s FTSE 100 rose 0.2% while German DAX 30 declined 0.1%. Producer prices in Spain surged 15.3% year-over-year in July. The Ifo Business Climate indicator for Germany declined to a three-month low level of 99.4 in August.

Broker Recommendation

Barclays upgraded FactSet Research Systems Inc. (NYSE:FDS) from Equal-Weight to Overweight and raised the price target from $340 to $450.

FactSet Research shares rose 0.3% to close at $367.64 on Tuesday.

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