A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of GDP Report

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade, ahead of earnings from several companies. Gross Domestic Product report for the second quarter is schedule for release at 8:30 a.m. ET, while the University of Michigan's consumer sentiment index for July will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 26 points to 25,551.00, while the Standard & Poor’s 500 index futures traded rose 2 points to 2,844.50. Futures for the Nasdaq 100 index climbed 19.75 points to 7,450.50.

Oil prices traded lower as Brent crude futures fell 0.15 percent to trade at $74.43 per barrel, while US WTI crude futures fell 0.23 percent to trade at $69.45 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 0.84 percent, STOXX Europe 600 Index climbing 0.30 percent and German DAX 30 index gaining 0.41 percent. The UK's FTSE index was trading higher by 0.52 percent, while French CAC 40 Index rose 0.16 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.56 percent, Hong Kong’s Hang Seng Index rose 0.08 percent, China’s Shanghai Composite Index fell 0.30 percent and India’s BSE Sensex rose 0.95 percent.

Broker Recommendation

Analysts at Credit Suisse upgraded Supervalu Inc. SVU from Underweight to Neutral and raised the price target from $16 to $32.50.

SUPERVALU shares rose 65.40 percent to close at $32.17 on Thursday.

Breaking News

• Aon PLC AON reported better-than-expected results for its second quarter.
• Twitter Inc TWTR reported in-line earnings for its second quarter, while sales exceeded estimates. Twitter expects Q3 adjusted EBITDA of $215 million to $235 million.
• Amazon.com, Inc. AMZN reported better-than-expected earnings for its second quarter.
• Intel Corporation INTC reported better-than-expected results for its second quarter.