Pre-open movers

Data on wholesale inventories and U.S. international trade in goods will be released at 8:30 a.m. ET. The Dallas Fed manufacturing index for March will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average rose 6 points to 34,765.00 while the Standard & Poor’s 500 index futures slipped 2 points to 4,534.50. Futures for the Nasdaq index fell 18 points to 14,728.00.

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Oil prices traded lower as Brent crude futures fell 3.7% to trade at $112.99 per barrel, while US WTI crude futures fell 4.1% to trade at $109.23 a barrel. The total number of active U.S. oil rigs rose by 7 to 531 rigs this week, Baker Hughes Inc reported Friday.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,621,880 with around 1,003,460 deaths. India reported a total of at least 43,020,720 confirmed cases, while Brazil confirmed over 29,842,410 cases.

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A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.7%, while Spain’s IBEX 35 Index rose 1.1% and London’s FTSE 100 rose 0.3%. The French CAC 40 Index gained 0.9%, while German DAX climbed 1.2%.

Asian markets traded mostly higher today. Japan’s Nikkei 225 fell 0.73%, Hong Kong’s Hang Seng Index gained 1.24% and China’s Shanghai Composite Index rose 0.07%. Australia’s S&P/ASX 200 rose 0.1%, while India’s BSE SENSEX rose 0.3%. Profits earned by Chinese industrial firms increase 5.0% year-over-year to CNY 11.58 trillion in January-February 2022.

Broker Recommendation

Keybanc maintained Global Payments Inc. (NYSE:GPN) with an Overweight and lowered the price target from $175 to $165.

Global Payments shares rose 0.4% to $136.72 in pre-market trading.

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