U.S. stock futures traded lower in early pre-market trade after the Nasdaq dropped around 75 points in the previous session.
Futures for the Dow Jones Industrial Average dropped 108 points to 34,518.00 while the Standard & Poor’s 500 index futures traded fell 18.75 points to 4,363.50. Futures for the Nasdaq 100 index declined 81 points to 14,727.25.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 45,204,370 with around 733,570 deaths. India reported a total of at least 33,971,600 confirmed cases, while Brazil confirmed over 21,575,820 cases.
Oil prices traded higher as Brent crude futures rose 2% to trade at $84.01 per barrel, while US WTI crude futures gained 2.4% to trade at $81.24 a barrel. The total number of active U.S. oil rigs climbed by 5 to 433 rigs this week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets
European markets were mostly lower today. The Spanish Ibex Index fell 0.5% and STOXX Europe 600 Index declined 0.3%. The French CAC 40 Index fell 0.2%, while German DAX 30 dropped 0.2% and London’s FTSE 100 rose 0.2%. Italy’s industrial production fell 0.2% from a month ago in August versus a revised 1% growth in the previous month
Asian markets traded mixed today. Japan’s Nikkei 225 gained 1.6%, China’s Shanghai Composite fell 0.01% and Hong Kong’s Hang Seng index gained 1.96%, India’s BSE Sensex rose 0.5%, while Australia's S&P/ASX 200 traded lower by 0.3%.
Analysts at Raymond James upgraded ChemoCentryx CCXI from Outperform to Strong Buy and raised the price target from $62 to $107..
ChemoCentryx shares rose 1.5% to $38.98 in pre-market trading.
- Southwest Airlines Co LUV reported the cancelation of more than 1,000 flights due to air traffic control issues and bad weather.
- Kraft Heinz KHC CEO Miguel Patricio has said that the recent trend of higher food prices is here to stay.
- Mandiant Inc MNDT reported the completion of divestiture of its FireEye Products unit to McAfee Enterprise for $1.2 billion in cash.
- TSR Inc. TSRI disclosed a $5 million common stock shelf offering.
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