Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Producer Price Index for August will be released at 8:30 a.m. ET. Federal Reserve Board of Governors member Lael Brainard is set to speak in Detroit, MI at 12:45 p.m. ET. The Federal Open Market Committee will release its Beige Book report at 2:00 p.m. ET. Apple Inc. AAPL is expected to reveal details about its recent iPhones.

Futures for the Dow Jones Industrial Average gained 18 points to 26,020.00, while the Standard & Poor’s 500 index futures traded rose 2 points to 2,891.75. Futures for the Nasdaq 100 index climbed 17.5 points to 7,528.50.

Oil prices traded higher as Brent crude futures rose 0.14 percent to trade at $79.17 per barrel, while US WTI crude futures gained 0.82 percent to trade at $69.82 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.06 percent, STOXX Europe 600 Index gaining 0.19 percent and German DAX 30 index gained 0.12 percent. The UK’s FTSE index was trading higher by 0.04 percent, while French CAC 40 Index rose 0.45 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.27 percent, Hong Kong’s Hang Seng Index fell 0.29 percent, China’s Shanghai Composite Index declined 0.33 percent and India’s BSE Sensex climbed 0.81 percent.

Broker Recommendation

Analysts at Oppenheimer upgraded Tiffany & Co. TIF from Perform to Outperform and raised the price target from $145 to $152.

Tiffany shares fell 0.77 percent to close at $123.37 on Tuesday.

Breaking News

  • Farmer Bros CoFARM reported downbeat results for its fourth quarter on Tuesday.
  • International Game Technology PLCIGT reported a sports betting agreement with Mississippi Band of Choctaw Tribe.
  • Foamix Pharmaceuticals LtdFOMX shares climbed over 52 percent in pre-market trading after the company disclosed that a Phase 3 trial for the company’s FMX101 acne candidate met both co-primary endpoints.
  • Broadwind Energy Inc.BWEN reported the sale of Idle Gearing Facility for $500,000.