U.S. stock futures traded higher in early pre-market trade. The Labor Market Conditions Index for July is schedule for release at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in Nashville at 11:45 a.m. ET, while Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Sioux Falls, SD at 1:25 p.m. ET. Data on consumer credit for June will be released at 3:00 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 33 points to 22,050.00, while the Standard & Poor’s 500 index futures rose 2 points to 2,474.00. Futures for the Nasdaq 100 index gained 7 points to 5,904.50.
Oil prices traded lower as Brent crude futures fell 1.13 percent to trade at $51.83 per barrel, while US WTI crude futures dropped 1.05 percent to trade at $49.06 a barre.
A Peek Into Global Markets
European markets were mostly lower today, with the Spanish Ibex Index falling 0.02 percent, STOXX Europe 600 Index declining 0.23 percent and German DAX 30 index dropping 0.47 percent. The UK’s FTSE index was trading higher by 0.11 percent, while French CAC 40 Index fell 0.01 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.52 percent, Hong Kong’s Hang Seng Index rose 0.46 percent, China’s Shanghai Composite Index climbed 0.53 percent and India’s BSE Sensex fell 0.16 percent.
Analysts at Morgan Stanley upgraded GrubHub Inc GRUB from Equal-Weight to Overweight and raised the price target from $43.00 to $59.00.
GrubHub shares rose 8.94 percent to close at $52.62 on Friday.
- Booz Allen Hamilton Holding Corporation BAHreported stronger-than-expected earnings for its first quarter, while sales missed estimates.
- Fresenius Medical Care announced plans to acquire NxStage Medical, Inc. NXTMfor $30.00 per share in cash.
- Snap-on IncorporatedSNA reported a $500 million buyback program.
- Zynerba Pharmaceuticals IncZYNE disclosed that its Phase 2 STAR 1 trial of ZYN002 did not meet primary endpoint.