Pre-open movers
U.S. stock futures traded higher in early pre-market trade, after posting a rise in the earlier session. Investors are awaiting earnings reports from Campbell Soup Inc. CPB, American Eagle Outfitters Inc. AEO and Express Inc. EXPR. The ADP national employment report for May will be released at 8:15 a.m. ET, while US Services PMI for May is scheduled for release at 9:45 a.m. ET. Data on factory orders for April and the ISM's non-manufacturing index for May will be released at 10:00 a.m. ET.
The U.S. has the highest number of COVID-19 cases and deaths in the world. Total coronavirus cases in the U.S. exceeded 1,831,820 with around 106,180 deaths. Russia reported a total of at least 423,180 confirmed cases, while Brazil confirmed over 555,380 cases.
Futures for the Dow Jones Industrial Average climbed 194 points to 25,895 while the Standard & Poor's 500 index futures traded rose 16.10 points to 3,093. Futures for the Nasdaq 100 index gained 39 points to 9,686.75.
Oil prices traded higher as Brent crude futures rose 0.9% to trade at $39.94 per barrel, while US WTI crude futures rose 1.2% to trade at $37.24 a barrel. The Energy Information Administration's weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 1.1% and STOXX Europe 600 Index gaining 1.1%. The UK's FTSE index was trading higher by 1.2%, while French CAC 40 Index rose 1.7% and German DAX 30 gained 1.9%.
In Asian markets, Japan's Nikkei rose 1.29%, Hong Kong's Hang Seng Index rose 1.37%, China's Shanghai Composite Index rose 0.07% and India's BSE Sensex rose 1.7%.
Breaking News
- Lyft Inc. LYFT disclosed a rise in its business following the lifting of coronavirus-led restrictions. Lyft's total number of rides climbed 26% in May versus the prior month. The company also said it expects adjusted EBITDA loss to not exceed $325 million if daily volumes in June remain at a similar level versus May.
- Zoom Video Communications Inc ZM reported stronger-than-expected results for its first quarter on Tuesday.
- Amazon Inc. AMZN is planning a summer sale in June, which would last anywhere between seven to 10 days to give its sellers a boost after they have been left reeling from the impacts of the COVID-19 pandemic..
- Microchip Technology Inc. MCHP raised its Q1 earnings and sales guidance for the first quarter.
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