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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after closing mixed in the previous session. Investors are awaiting earnings results from FuelCell Energy, Inc. FCEL.

Data on U.S. international trade in goods and wholesale inventories for November will be released at 8:30 a.m. ET. The pending home sales index for November is scheduled for release at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 58 points to 36,340.00 while the Standard & Poor’s 500 index futures gained 10 points to 4,788.50. Futures for the Nasdaq index jumped 60.50 points to 16,548.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 54,148,540 with around 842,160 deaths. India reported a total of at least 34,808,880 confirmed cases, while Brazil confirmed over 22,254,700 cases.

Oil prices traded mostly flat as Brent crude futures rose 0.1% to trade at $78.68 per barrel, while US WTI crude futures fell 0.1% to trade at $78.68 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 mixed today. The Spanish Ibex Index fell 0.1% and STOXX Europe 600 Index gained 0.2%. The French CAC 40 Index gained 0.1%, while London’s FTSE 100 gained 0.8% and German DAX 30 fell 0.2%.

Asian markets traded mostly lower today. Japan’s Nikkei 225 fell 0.56%, while Hong Kong’s Hang Seng Index fell 0.83% and China’s Shanghai Composite fell 0.91%. Australia’s S&P/ASX 200 climbed 1.2%, while India’s BSE Sensex slipped 0.1%. Singapore’s Domestic Supply Price Index surged 26% year-over-year in November following a 25.4% increase in the earlier month.

Broker Recommendation

DA Davidson initiated coverage on Akamai Technologies, Inc. AKAM with a Buy rating and announced a price target of $143.

Akamai shares rose 1.2% to $119.85 in pre-market trading.

Check out other major ratings here

Breaking News

• JD.com, Inc. JD boosted its share buyback plan from $2 billion to $3 billion.
• Cal-Maine Foods CALM reported weaker-than-expected earnings for its second quarter on Tuesday.
• Apple Inc AAPL has placed the Foxconn Technology Group factory in Chennai, India under probation after conducting an investigation that revealed its workers were being subjected to poor working conditions.
• Darling Ingredients Inc. DAR agreed to acquire all of the shares of Valley Proteins, Inc. for around $1.1 billion in cash.

Check out other breaking news here