A Peek Into The Markets: U.S. Stock Futures Mostly Higher; Crude Oil Up Over 2%

Pre-open movers

U.S. stock futures traded mostly higher in early pre-market trade. The Empire State manufacturing index for May is schedule for release at 8:30 a.m. ET, while the housing market index for May will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 36 points to 20,884.00, while the Standard & Poor’s 500 index futures rose 2.50 points to 2,391.25. Futures for the Nasdaq 100 index slipped 0.50 points to 5,688.50.

Oil prices traded higher as Brent crude futures rose 2.77 percent to trade at $52.25 per barrel, while US WTI crude futures gained 2.88 percent to trade at $49.22 a barrel.

A Peek Into Global Markets

European markets were mixed today, with the Spanish Ibex Index rising 0.09 percent, STOXX Europe 600 Index declining 0.13 percent and German DAX 30 index dropping 0.17 percent. The UK's FTSE index was trading higher by 0.10 percent, while French CAC 40 Index fell 0.22 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.07 percent, Hong Kong’s Hang Seng Index rose 0.86 percent, China’s Shanghai Composite Index surged 0.22 percent and India’s BSE Sensex rose 0.44 percent.

Broker Recommendation

Analysts at Morgan Stanley downgraded Tesla Inc TSLA from Overweight to Equal-Weight.

Tesla shares fell 2.71 percent to $316.02 in pre-market trading.

Breaking news

• Thermo Fisher Scientific Inc. TMO announced plans to acquire Patheon NV PTHN for $35 per share in cash.



• Moody's Corporation MCO agreed to acquire Bureau van Dijk for $3.27 billion.



• Avis Budget Group, Inc. CAR reported the resignation of its President and Chief Financial Officer David B. Wyshner.



• Eldorado Gold Corp (USA) EGO announced plans to acquire Integra Gold for C$590 million.