U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Bank of America Corp BAC. Data on retail sales for March and the Empire State manufacturing index for April will be released at 8:30 a.m. ET. Data on business inventories for February and the housing market index for April will be released at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Florence, Alabama at 1:15 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 148 points to 24,484.00, while the Standard & Poor’s 500 index futures rose 15.70 points to 2,673.00. Futures for the Nasdaq 100 index gained 41.25 points to 6,682.00.
Oil prices traded lower as Brent crude futures fell 1.25 percent to trade at $71.67 per barrel, while US WTI crude futures fell 1.11 percent to trade at $66.64 a barrel.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index rising 0.09 percent, STOXX Europe 600 Index falling 0.06 percent and German DAX 30 index gaining 0.12 percent. The UK’s FTSE index was trading lower by 0.47 percent, while French CAC 40 Index rose 0.11 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.26 percent, Hong Kong’s Hang Seng Index fell 1.60 percent, China’s Shanghai Composite Index declined 1.53 percent and India’s BSE Sensex rose 0.33 percent.
Analysts at Wells Fargo upgraded Costco Wholesale Corporation COST from Market Perform to Outperform.
Costco shares rose 1.10 percent to $190.99 in pre-market trading.
- Eldorado Resorts, Inc.ERI announced plans to buy Tropicana Entertainment for $1.85 billion in cash.
- MGM Resorts InternationalMGM reported the sale of Grand Victoria Casino in Elgin, Illinois to Eldorado Resorts for $327.5 million in cash.
- Pebblebrook Hotel TrustPEB reported that it has raised offer for LaSalle Hotel Properties LHO from $31 per share to $31.75 per share.
- J.B. Hunt Transport Services, Inc.JBHT reported in-line earnings for its first quarter, while sales exceeded estimates.