A Peek Into The Markets: US Stock Futures Edge Lower Following Thursday's Surge; Fed Speakers In Focus -

Pre-open movers

U.S. stock futures traded slightly lower in early pre-market trade after the Dow Jones jumped around 350 points in the previous session. Investors are awaiting earnings results from BRP Inc. (NASDAQ:DOOO) and DXP Enterprises, Inc. (NASDAQ:DXPE).

The University of Michigan's consumer sentiment index and pending home sales index will be released at 10:00 a.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 10:00 a.m. ET, while Federal Reserve Bank of San Francisco President Mary Daly will speak at 11:00 a.m. ET. Federal Reserve Bank of Richmond President Thomas Barkin is set to speak at 11:30 a.m. ET, while Federal Reserve Governor Christopher Waller will speak at 12:00 p.m. ET.

Futures for the Dow Jones Industrial Average fell 27 points to 34,577.00 while the Standard & Poor’s 500 index futures slipped 6.75 points to 4,505.75. Futures for the Nasdaq index fell 40.25 points to 14,723.50.

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Oil prices traded lower as Brent crude futures fell 2.4% to trade at $112.55 per barrel, while US WTI crude futures fell 2.6% to trade at $109.45 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,565,950 with around 1,002,250 deaths. India reported a total of at least 43,016,370 confirmed cases, while Brazil confirmed over 29,767,680 cases.

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A Peek Into Global Markets

European markets were mostly higher today. The STOXX Europe 600 Index gained 0.1%, while Spain’s IBEX 35 Index rose 0.2% and London’s FTSE 100 fell 0.1%. The French CAC 40 Index gained 0.2%, while German DAX rose 0.2%. Loans to households in the Eurozone rose 4.4% year-over-year in February. Spanish gross domestic product expanded by 2.2% on quarter during the fourth quarter, while producer price inflation increased to a new record high of 40.7% year-over-year in February from 35.7% in the previous month. Retail sales in the UK dropped 0.3% in February following a 1.9% growth in January, while GfK consumer confidence indicator declined to its lowest level in 16 months in March.

Asian markets traded mostly lower today. Japan’s Nikkei 225 rose 0.14%, Hong Kong’s Hang Seng Index fell 2.47% and China’s Shanghai Composite Index fell 1.17%. Australia’s S&P/ASX 200 rose 0.3%, while India’s BSE SENSEX fell 0.5%. Japan’s manufacturing PMI rose to 53.2 in March from a final 52.7, while services PMI rose to 48.7 in March from 44.2 in the previous month. The IHS Markit Australia Composite PMI climbed to 57.1 in March from 56.6 in February.

Breaking News

Nio, Inc. (NYSE:NIO) reported better-than-expected results for its fourth quarter. The company's first-quarter guidance suggested sequentially flat to slightly higher deliveries and below-consensus revenues.
Joby Aviation, Inc. (NYSE:JOBY) reported better-than-expected earnings results for its fourth quarter on Thursday.
Rocket Lab USA (NASDAQ:RKLB) reduced its first-quarter revenue outlook to $40 million, down from the consensus estimate of $42 to $47 million.
SmartRent, Inc. (NYSE:SMRT) reported a wider-than-expected loss for its fourth quarter and issued weak sales guidance. The company also said it acquired SightPlan Inc. on March 22 for $135 million.

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DXPEDXP Enterprises Inc

$156.481.20%

Overview

JOBYJoby Aviation Inc

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