U.S. stock futures traded higher in early pre-market trade. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Kingsport, Tennessee at 11:00 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 57 points to 25,731.00, while the Standard & Poor’s 500 index futures traded rose 5.30 points to 2,857.50. Futures for the Nasdaq 100 index climbed 23.75 points to 7,411.25.
Oil prices traded mixed as Brent crude futures rose 0.13 percent to trade at $71.92 per barrel, while US WTI crude futures dropped 0.27 percent to trade at $65.73 a barrel.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 0.26 percent, STOXX Europe 600 Index surging 0.51 percent and German DAX 30 index climbing 0.87 percent. The UK’s FTSE index was trading higher by 0.55 percent, while French CAC 40 Index rose 0.53 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.32 percent, Hong Kong’s Hang Seng Index rose 1.41 percent, China’s Shanghai Composite Index jumped 1.11 percent and India’s BSE Sensex jumped 0.87 percent.
Analysts at Susquehanna upgraded Nike Inc NKE from Neutral to Positive and raised the price target from $78 to $93.
Nike shares rose 1.69 percent to $81.10 in pre-market trading.
- Tyson Foods, Inc. TSNannounced plans to acquire Keystone Foods for $2.16 billion in cash.
- Alexion Pharmaceuticals, Inc.ALXN disclosed that it has been granted priority review by the FDA for its Biologics License Application for ALXN1210.
- PepsiCo, Inc. PEPannounced plans to acquire Sodastream International Ltd SODA for $144 per share in cash.
- Estee Lauder Companies Inc ELreported better-than-expected earnings for its fourth quarter. Estee Lauder now expects restructuring costs of $900 million to $950 million, versus earlier forecast of $600 million to $700 million.