A Peek Into The Markets: US Stock Futures Edge Higher

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Futures for the Dow Jones Industrial Average gained 8 points to 29,052 while the Standard & Poor’s 500 index futures traded rose 2.25 points to 3,327.75. Futures for the Nasdaq 100 index gained 15.5 points to 9,425.00.

Oil prices traded lower as Brent crude futures fell 0.8% to trade at $54.03 per barrel, while US WTI crude futures fell 0.8% to trade at $49.92 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index falling 0.2%, STOXX Europe 600 Index declining 0.5% and German DAX 30 index dropping 0.4%. The UK’s FTSE index was trading lower by 0.4%, while French CAC 40 Index fell 0.5%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.6%, Hong Kong’s Hang Seng Index fell 0.59%, China’s Shanghai Composite Index rose 0.51% and India’s BSE Sensex fell 0.39%.

Broker Recommendation

Analysts at Wells Fargo downgraded World Wrestling Entertainment, Inc. (NYSE: WWE) from Overweight to Underweight.

WWE shares fell 2.4% to $41.50 in pre-market trading.

Breaking News

• Restaurant Brands International Inc. (NYSE: QSR) posted better-than-expected results for the fourth quarter.
• Edgewell Personal Care Co (NYSE: EPC) reported better-than-expected results for its fourth quarter, but lowered its FY20 earnings forecast.
• Loews Corporation (NYSE: L) reported upbeat earnings for its fourth quarter.
• L Brands Inc (NYSE: LB) is nearing a sale of Victoria’s Secret to Sycamore Partners, CNBC reported.