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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Empire State manufacturing index for June, while the housing market index for June will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 34 points to 26,162.00, while the Standard & Poor’s 500 index futures rose 4.2 points to 2,899.00. Futures for the Nasdaq 100 index gained 21.5 points to 7,526.25.

Oil prices traded lower as Brent crude futures fell 0.4 percent to trade at $61.61 per barrel, while US WTI crude futures fell 0.7 percent to trade at $52.14 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.4 percent, STOXX Europe 600 Index declining 0.1 percent and German DAX 30 index gaining 0.1 percent. The UK's FTSE index was trading lower by 0.1 percent, while French CAC 40 Index rose 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.03 percent, Hong Kong’s Hang Seng Index gained 0.4 percent, China’s Shanghai Composite Index fell 0.79 percent and India’s BSE Sensex fell 1.25 percent.

Broker Recommendation

Analysts at Imperial Capital downgraded Walt Disney Co DIS from Outperform to In-Line and announced a $147 price target.

Disney shares fell 0.9 percent to $140.36 in pre-market trading.

Breaking News

• Uniqure NV QURE shares climbed around 9% in pre-market trading following Bloomberg report that the company is exploring options including a potential sale.
• Prosperity Bancshares, Inc. PB and LegacyTexas Financial Group Inc LTXB announced a merger agreement pursuant to which LegacyTexas will merge with Prosperity.
• Ampio Pharmaceuticals Inc AMPE reported a common stock offering with no disclosed size.
• Ares Management Corp ARES agrred to sell National Veterinary Associates to JAB Investors.