Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Albany, Georgia at 11:30 a.m. ET. Data on consumer credit for July will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 85 points to 26,045.0, while the Standard & Poor’s 500 index futures traded rose 10.30 points to 2,885.25. Futures for the Nasdaq 100 index gained 39.75 points to 7,478.00.

Oil prices traded higher as Brent crude futures rose 0.75 percent to trade at $77.41 per barrel, while US WTI crude futures gained 0.65 percent to trade at $68.19 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 1.01 percent, STOXX Europe 600 Index climbing 0.40 percent and German DAX 30 index gained 0.30 percent. The UK’s FTSE index was trading higher by 0.36 percent, while French CAC 40 Index rose 0.42 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.30 percent, Hong Kong’s Hang Seng Index fell 1.33 percent, China’s Shanghai Composite Index declined 1.21 percent and India’s BSE Sensex dipped 1.22 percent.

Broker Recommendation

Analysts at KeyBanc upgraded RH RH from Sector Weight to Overweight.

RH shares rose 2.96 percent to $129.88 in pre-market trading.

Breaking News

  • RPC, Inc.NYSERPC disclosed that it is in talks to sell the company.
  • Merck & Co., Inc.MRK disclosed that the European Commission has approved KEYTRUDA in combination with pemetrexed and platinum chemotherapy for the first-line treatment of patients with metastatic nonsquamous NSCLC.
  • Polarityte IncCOOL reported the termination of Chief Investment Officer John Stetson following a recent SEC complaint against him.
  • Destination Maternity Corp DESTreported a Q2 loss of $0.11 per share, versus a year-ago loss of $0.13 per share. Its sales declined to $96.4 million from $98.28 million.