A Peek Into The Markets: U.S. Stock Futures Up Ahead Of Jobless Claims Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Challenger job-cut report for March is schedule for release at 7:30 a.m. ET, while data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. San Francisco Federal Reserve Bank President John Williams is set to speak in Frankfurt at 9:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 22 points to 20,599.00, while the Standard & Poor’s 500 index futures rose 2.25 points to 2,348.75. Futures for the Nasdaq 100 index climbed 5.25 points to 5,421.50.

Oil prices traded higher as Brent crude futures rose 0.37 percent to trade at $54.56 per barrel, while US WTI crude futures rose 0.27 percent to trade at $51.29 a barrel. The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index rising 0.34 percent, STOXX Europe 600 Index dropping 0.15 percent and German DAX 30 index dropping 0.20 percent. The UK's FTSE index was trading lower by 0.40 percent, while French CAC 40 Index rose 0.23 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 1.40 percent, Hong Kong’s Hang Seng Index declined 0.52 percent, China’s Shanghai Composite Index rose 0.33 percent and India’s BSE Sensex fell 0.16 percent.

Broker Recommendation

Analysts at JMP Securities upgraded NetApp Inc. NTAP from Market Underperform to Market Perform.

NetApp shares fell 0.24 percent to close at $40.90 on Wednesday.

Breaking news

• RPM International Inc. RPM posted better-than-expected earnings for its third quarter, but lowered its adjusted earnings forecast for the full year.



• Bed Bath & Beyond Inc. BBBY posted better-than-expected earnings for its fourth quarter and increased quarterly dividend to $0.15 per share.



• PacWest Bancorp PACW announced plans to buy CU Bancorp CUNB in a deal valued at around $705 million.



• Yum China Holdings Inc YUMC reported upbeat earnings for its first quarter on Wednesday.