A Peek Into The Markets: US Stock Futures Mixed; Tesla Earnings In Focus

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 points in the previous session. Investors are awaiting earnings results from Tesla Inc TSLA, Lennox International Inc. LII, NXP Semiconductors NV NXPI and Albertsons Companies Inc ACI.

Data on durable goods orders for March will be released at 8:30 a.m. ET, while the Dallas Fed manufacturing index for April is scheduled for release at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average gained 31 points to 33,972.00 while the Standard & Poor’s 500 index futures fell 0.75 points at 4,170.75. Futures for the Nasdaq 100 index fell 19.50 points to 13,907.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 32,077,290 with around 572,200 deaths. India reported a total of at least 17,313,160 confirmed cases, while Brazil confirmed over 14,340,780 cases.

Oil prices traded lower as Brent crude futures fell 1.2% to trade at $61.43 per barrel, while US WTI crude futures fell 1.1% to trade at $61.43 a barrel. The total number of active U.S. oil rigs slipped by 1 to 343 rigs this week, Baker Hughes Inc reported Friday.

A Peek Into Global Markets

European markets were mostly higher today. The Spanish Ibex Index rose 0.5% and STOXX Europe 600 Index rose 0.1%. The French CAC 40 Index rose 0.1%, German DAX 30 gained 0.1% while London's FTSE 100 fell 0.1%. German Ifo Business Climate indicator increased slightly to 96.8 in April from the previous month's level of 96.6.

Asian markets traded mixed today. Japan’s Nikkei 225 rose 0.36%, China’s Shanghai Composite fell 0.95% and Hong Kong’s Hang Seng Index fell 0.43%. Australia’s S&P/ASX 200 fell 0.2%, while India’s BSE Sensex rose 1.1%. Japan’s index of leading economic indicators was revised lower to 98.7 in February versus a preliminary reading of 99.7.

Broker Recommendation

Keybanc downgraded Etsy, Inc. ETSY from Overweight to Sector Weight..

Etsy shares fell 1.9% to $210.50 in pre-market trading.

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Breaking News

• Johnson & Johnson JNJ got a reprieve after the US FDA and the CDC revoked their earlier recommendation to pause the use of its COVID-19 vaccine. The pause regarding the use of J&J's COVID-19 vaccine should be lifted and the use of it should resume, the FDA said in a statement.
• Ocugen Inc.’s OCGN COVID-19 vaccine partner, India-based Bharat Biotech International Ltd., will charge as much as double its main rival AstraZeneca plc AZN for its vaccines in India.
• Apple Inc AAPL is being sued in New York over allegations of overstating the water-resistive capabilities of its smartphones.
• Tesla Inc. TSLA is starting to offer free Powerwall batteries to consumers who suffered huge price increases on solar roof installations that were already under contracts, Electrek reported.

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