A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Economic Data

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade.

Data on durable goods orders for January and the Producer Price Index for February will be released at 8:30 a.m. ET. Data on construction spending for January and e-commerce retail sales for the fourth quarter will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 21 points to 25,572.00, while the Standard & Poor’s 500 index futures rose 4.75 points to 2,796.75. Futures for the Nasdaq 100 index rose 13.25 points to 7,220.25.

Oil prices traded higher as Brent crude futures rose 0.7 percent to trade at $67.11 per barrel, while US WTI crude futures rose 1 percent to trade at $57.43 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.3 percent, STOXX Europe 600 Index climbing 0.2 percent and German DAX 30 index dropped 0.1 percent. The UK's FTSE index was trading higher by 0.1 percent, while French CAC 40 Index gained 0.3 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.99 percent, Hong Kong’s Hang Seng Index declined 0.39 percent, China’s Shanghai Composite Index fell 1.09 percent and India’s BSE Sensex rose 0.58 percent.

Broker Recommendation

Analysts at Goldman Sachs upgraded Carnival Corp CCL from Neutral to Buy.

Carnival shares rose 1.8 percent to $56.25 in pre-market trading.

Breaking News

• HEXO Corp HEXO announced plans to acquire Newstrike Brands Ltd. for $263 million.
• Express, Inc. EXPR reported upbeat earnings for its fourth quarter, while sales missed views. The company also issued weal forecast for the first quarter.
• Speedway Motorsports, Inc. TRK reported downbeat results for its fourth quarter and issued weak FY19 outlook.
• Switch Inc SWCH reported upbeat earnings for its fourth quarter, while sales missed estimates. The company issued weak full-year 2019 sales forecast.