A Peek Into The Markets: US Stock Futures Up Ahead Of Jobs Report, Fed Speakers

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on nonfarm payrolls and unemployment rate for October will be released at 8:30 a.m. ET, while the manufacturing PMI for October is schedule for release at 9:45 a.m. ET. The ISM manufacturing composite index for October and data on construction spending for September will be released at 10:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Houston, Texas at 9:30 a.m. ET, while New York Federal Reserve Bank President John Williams will speak in Newark, New Jersey at 12:00 p.m. ET. Federal Reserve Board of Governors Vice Chairman Richard Clarida is set to speak in New York, NY at 1:00 p.m. ET, while Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will speak in New Haven, Connecticut at 1:00 p.m. ET. San Francisco Federal Reserve Bank President Mary Daly is set to speak in Washington, DC at 1:00 p.m. ET, while New York Federal Reserve Bank President John Williams will speak in Newark, New Jersey at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 30 points to 27,012 while the Standard & Poor’s 500 index futures traded rose 4 points to 3,039.75. Futures for the Nasdaq 100 index gained 14 points to 8,104.25.

Oil prices traded higher as Brent crude futures rose 0.1% to trade at $59.67 per barrel, while US WTI crude futures rose 0.3% to trade at $54.35 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 0.1%, STOXX Europe 600 Index climbing 0.3% and German DAX 30 index gaining 0.3%. The UK's FTSE index was trading higher by 0.3%, while French CAC 40 Index rose 0.2%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.33%, Hong Kong’s Hang Seng Index gained 0.72%, China’s Shanghai Composite Index rose 0.99% and India’s BSE Sensex rose 0.09%.

Broker Recommendation

Analysts at Cowen & Co. downgraded Grubhub Inc. GRUB from Outperform to Market Perform.

GrubHub shares fell 0.5% to $32.83 in pre-market trading.

Breaking News

• Exxon Mobil Corporation XOM reported upbeat earnings for its third quarter.
• Alibaba Group Holding Ltd - ADR BABA reported better-than-expected results for its second quarter.
• Booz Allen Hamilton Holding Corporation BAH reported upbeat results for its second quarter and raised its quarterly dividend from $0.23 to $0.27 per share.
• Colgate-Palmolive Company CL reported upbeat earnings for its third quarter, while sales missed estimates.