U.S. stock futures traded higher in early pre-market trade, ahead of earnings from several companies. The ADP employment report for October will be released at 8:15 a.m. ET, while the employment cost index for the third quarter is schedule for release at 8:30 a.m. ET. The Chicago PMI for October will be released at 9:45 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 163 points to 25,022.00, while the Standard & Poor’s 500 index futures traded rose 19.75 points to 2,705.00. Futures for the Nasdaq 100 index rose 80 points to 6,893.50.
Oil prices traded higher as Brent crude futures rose 0.51 percent to trade at $76.30 per barrel, while US WTI crude futures rose 0.36 percent to trade at $66.42 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 1.15 percent, STOXX Europe 600 Index surging 1.56 percent and German DAX 30 index climbed 1.32 percent. The UK’s FTSE index was trading higher by 1.63 percent, while French CAC 40 Index jumped 2.27 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 2.16 percent, Hong Kong’s Hang Seng Index rose 1.6 percent, China’s Shanghai Composite Index climbed 1.35 percent and India’s BSE Sensex rose 1.63 percent.
Analysts at JP Morgan upgraded Cummins Inc. CMI from Underweight to Neutral and raised the price target from $137 to $147.
Cummins shares fell 0.22 percent to $134.10 in pre-market trading.
- Facebook, Inc. FBreported upbeat earnings for its third quarter, while sales missed estimates. The company reported daily active users for September were up 9 percent year-over-year.
- Clorox Co CLXreported better-than-expected earnings for its first quarter, but lowered its FY19 earnings guidance.
- Estee Lauder Companies Inc NYSEWL reported better-than-expected results for its first quarter.
- Yum! Brands, Inc. YUMposted upbeat earnings for its third quarter.