A Peek Into The Markets: U.S. Stock Futures Surge Ahead Of Economic Reports

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Challenger job-cut report for December is schedule for release at 7:30 a.m. ET, while the ADP national employment report for December will be released at 8:15 a.m. ET. Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET, while US Services Purchasing Managers’ Index for December is schedule for release at 9:45 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in Philadelphia at 1:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 72 points to 24,950.00, while the Standard & Poor’s 500 index futures rose 3.50 points to 2,714.50. Futures for the Nasdaq 100 index gained 12.25 points to 6,596.75.

Oil prices traded higher as Brent crude futures rose 0.01 percent to trade at $67.84 per barrel, while US WTI crude futures gained 0.32 percent to trade at $61.83 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET, while the EIA’s weekly report on petroleum inventories in the U.S. is schedule for release at 11:00 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.34 percent, STOXX Europe 600 Index gaining 0.58 percent and German DAX 30 index gaining 0.98 percent. The UK’s FTSE index was trading higher by 0.03 percent, while French CAC 40 Index rose 1.16 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 3.26 percent, Hong Kong’s Hang Seng Index climbed 0.57 percent, China’s Shanghai Composite Index rose 0.49 percent and India’s BSE Sensex climbed 0.52 percent.

Broker Recommendation

Analysts at KeyBanc upgraded Workday Inc WDAY from Sector Weight to Overweight.

Workday shares rose 0.98 percent to $106.20 in pre-market trading.

Breaking news

  • Walgreens Boots Alliance Inc WBAreported better-than-expected earnings for its first quarter.
  • Rite Aid Corporation RADreported weaker-than-expected revenue for its third quarter and announced a 2.5 percent drop in Q3 comps. Third quarter adjusted EPS came in flat, beating estimates by 2 cents. The company announced it adopted a tax benefits preservation plan to protect valuable tax assets.
  • CureVac and Arcturus Therapeutics LtdARCT reported a strategic collaboration to advance next gen of lipid-mediated mRNA therapeutics.
  • Zumiez Inc. ZUMZraised its earnings outlook for the fourth quarter. Sales in December were up 7.9 percent versus an estimated 3.7 percent.