U.S. stock futures traded higher in early pre-market trade. Data on durable goods orders for July will be released at 8:30 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Jackson Hole, Wyoming at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 62 points to 25,733.00, while the Standard & Poor’s 500 index futures traded rose 6.25 points to 2,864.50. Futures for the Nasdaq 100 index surged 22.25 points to 7,447.00.
Oil prices traded higher as Brent crude futures rose 1.24 percent to trade at $75.66 per barrel, while US WTI crude futures climbed 1.28 percent to trade at $68.70 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.43 percent, STOXX Europe 600 Index surging 0.25 percent and German DAX 30 index gaining 0.16 percent. The UK’s FTSE index was trading higher by 0.23 percent, while French CAC 40 Index rose 0.42 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.85 percent, Hong Kong’s Hang Seng Index fell 0.43 percent, China’s Shanghai Composite Index jumped 0.18 percent and India’s BSE Sensex dropped 0.22 percent.
Analysts at JP Morgan downgraded Cummins Inc. CMI from Neutral to Underweight and lowered the price target from $156 to $137.
Cummins shares fell 1.56 percent to $139.23 in pre-market trading.
- Enbridge Inc (USA) ENBreported a deal to buy all Spectra Energy Partners, LP SEP shares in a $3.3 billion deal.
- Foot Locker, Inc. FLreported better-than-expected earnings for its second quarter.
- Buckle Inc BKEreported better-than-expected results for its second quarter.
- Hibbett Sports, Inc. HIBBreported downbeat results for its second quarter and lowered its FY19 forecast.