A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Markit services PMI for May is schedule for release at 9:45 a.m. ET. The ISM nonmanufacturing index for May and data on job openings for April will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 29 points to 24,825.00, while the Standard & Poor’s 500 index futures rose 3 points to 2,748.50. Futures for the Nasdaq 100 index gained 17 points to 7,165.50.

Oil prices traded lower as Brent crude futures fell 1.29 percent to trade at $74.32 per barrel, while US WTI crude futures dropped 0.39 percent to trade at $64.50 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.28 percent, STOXX Europe 600 Index gaining 0.30 percent and German DAX 30 index gaining 0.88 percent. The UK’s FTSE index was trading lower by 0.46 percent, while French CAC 40 Index rose 0.55 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.28 percent, Hong Kong’s Hang Seng Index climbed 0.31 percent, China’s Shanghai Composite Index gained 0.74 percent and India’s BSE Sensex fell 0.31 percent.

Broker Recommendation

Analysts at MKM Partners upgraded Discovery, Inc. (NASDAQ: DISCA) from Neutral to Buy.

Discovery shares rose 0.67 percent to close at $21.09 on Monday.

Breaking news

• G-III Apparel Group, Ltd. (NASDAQ: GIII) reported better-than-expected results for its first quarter and raised its full-year guidance.
• Navistar International Corp (NYSE: NAV) reported upbeat earnings for its second quarter and raised its FY18 sales outlook.
• HD Supply Holdings Inc (NYSE: HDS) posted stronger-than-expected results for its first quarter.
• Twitter, Inc. (NYSE: TWTR) shares rose over 4 percent in pre-market trading following news that the company’s stock will be added to the S&P 500 index.