Pre-open movers
U.S. stock futures traded lower in early pre-market trade after the Dow Jones surged over 500 points in the previous session. Investors are awaiting earnings results from Carnival Corporation (NYSE:CCL) and 51job, Inc. (NASDAQ:JOBS).
Data on new home sales for August will be released at 10:00 a.m. ET. Federal Reserve Chair Jerome Powell, Federal Reserve Bank of Kansas City President Esther George, Federal Reserve Governor Michelle Bowman and Vice Chair Richard Clarida will speak at 10:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET.
Futures for the Dow Jones Industrial Average dropped 80 points to 34,564.00 while the Standard & Poor’s 500 index futures fell 15 points to 4,423.00. Futures for the Nasdaq 100 index fell 71 points to 15,232.50.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 42,672,290 with around 684,350 deaths. India reported a total of at least 33,594,800 confirmed cases, while Brazil confirmed over 21,308,170 cases.
A Peek Into Global Markets
Broker Recommendation
Jefferies upgraded The Cheesecake Factory Incorporated (NASDAQ:CAKE) from Hold to Buy and raised the price target from $55 to $60.
Cheesecake Factory shares rose 1.2% to $47.65 in pre-market trading.
Check out other major ratings here
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