Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade, ahead of earnings from several companies. The Chicago Fed National Activity Index for March is schedule for release at 8:30 a.m. ET, while the Composite Purchasing Managers’ Index for April will be released at 9:45 a.m. ET. Existing home sales report for March is schedule for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average declined 2 points to 24,431.00, while the Standard & Poor’s 500 index futures rose 0.15 points to 2,671.50. Futures for the Nasdaq 100 index gained 5.75 points to 6,680.50.

Oil prices traded lower as Brent crude futures fell 0.07 percent to trade at $74.01 per barrel, while US WTI crude futures fell 0.41 percent to trade at $68.12 a barrel.

 

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.11 percent, STOXX Europe 600 Index falling 0.04 percent and German DAX 30 index dropping 0.11 percent. The UK’s FTSE index was trading lower by 0.01 percent, while French CAC 40 Index slipped 0.07 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.33 percent, Hong Kong’s Hang Seng Index fell 0.54 percent, China’s Shanghai Composite Index gained 0.17 percent and India’s BSE Sensex rose 0.10 percent.

Broker Recommendation

Analysts at Deutsche Bank upgraded Michael Kors Holdings Limited KORS from Hold to Buy.

Michael Kors shares fell 1.07 percent to close at $65.01 on Friday.

Breaking news

  • Hasbro, Inc. HASreported weaker-than-expected results for its first quarter on Monday.
  • Subsea 7 S.A. confirmed a $7.00 per share proposal to acquire McDermott International IncMDR.
  • CenterPoint Energy, Inc. CNPannounced plans to acquire Vectren Corp VVC for $72 per share in cash.
  • Bank of Hawaii Corporation BOHreported upbeat earnings for its first quarter.