Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The manufacturing PMI for September is schedule for release at 9:45 a.m. ET, while the ISM manufacturing index for September and data on construction spending for August will be released at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, GA at 8:30 a.m. ET, while Boston Federal Reserve Bank President Eric Rosengren is set to speak in Boston at 12:15 p.m. ET.

Futures for the Dow Jones Industrial Average surged 210 points to 26,686.00, while the Standard & Poor’s 500 index futures traded rose 18 points to 2,937.00. Futures for the Nasdaq 100 index climbed 59.75 points to 7,714.50.

Oil prices traded higher as Brent crude futures rose 0.28 percent to trade at $82.96 per barrel, while US WTI crude futures rose 0.15 percent to trade at $73.36 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.76 percent, STOXX Europe 600 Index gaining 0.27 percent and German DAX 30 index gained 0.54 percent. The UK’s FTSE index was trading higher by 0.08 percent, while French CAC 40 Index rose 0.25 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.52 percent, Hong Kong’s Hang Seng Index rose 0.26 percent, China’s Shanghai Composite Index climbed 1.06 percent and India’s BSE Sensex climbed 0.83 percent.

Broker Recommendation

Analysts at Barclays downgraded Intel Corporation INTC from Equal-Weight to Underweight.

Intel shares fell 1.56 percent to $46.55 in pre-market trading.

Breaking News

  • Seattle Genetics, Inc.SGEN and Takeda disclosed that its Phase 3 ECHELON-2 clinical trial of ADCETRIS met its primary endpoint.
  • Cal-Maine Foods Inc CALMreported weaker-than-expected results for its first quarter.
  • RXi Pharmaceuticals CorpRXII prices its 21.43 million unit offering at $0.70 per unit.
  • Uranium Energy Corp. UECreported a $10 million offering.