U.S. stock futures traded higher in early pre-market trade. The flash Composite PMI for May will be released at 9:45 a.m. ET, while data on new home sales for April will be released at 10:00 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 3:15 p.m. ET, while Philadelphia Federal Reserve Bank President Patrick Harker will speak in New York at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 39 points to 20,917.00, while the Standard & Poor’s 500 index futures rose 2.75 points to 2,395.50. Futures for the Nasdaq 100 index gained 8.75 points to 5,710.75.

Oil prices traded higher as Brent crude futures fell 0.71 percent to trade at $53.49 per barrel, while US WTI crude futures gained 0.95 percent to trade at $53.49 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 0.98 percent, STOXX Europe 600 Index rising 0.21 percent and German DAX 30 index gaining 0.48 percent. The UK’s FTSE index was trading higher by 0.18 percent, while French CAC 40 Index climbed 0.72 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.33 percent, Hong Kong’s Hang Seng Index rose 0.05 percent, China’s Shanghai Composite Index declined 0.45 percent and India’s BSE Sensex fell 0.67 percent.

Broker Recommendation

Analysts at JP Morgan upgraded McKesson Corporation MCK from Neutral to Overweight.

McKesson shares rose 1.58 percent to close at $155.42 on Friday.

Breaking news

  • Toll Brothers Inc TOL reported better-than-expected results for its second quarter.
  • Agilent Technologies Inc A reported stronger-than-expected earnings for its second quarter on Monday.
  • Kirkland’s, Inc. KIRK posted a wider-than-expected loss for its first quarter.
  • AutoZone, Inc. AZO posted weaker-than-expected earnings for its third quarter on Tuesday.