A Peek Into The Markets: US Stock Futures Mostly Flat; Crude Oil Tumbles 4%

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade after the Dow Jones jumped around 150 points in the previous session. Investors are awaiting earnings results from Science Applications International Corporation SAIC, Jefferies Financial Group Inc. JEF and Dave & Buster's Entertainment, Inc. PLAY.

Data on wholesale inventories and U.S. international trade in goods will be released at 8:30 a.m. ET. The Dallas Fed manufacturing index for March will be released at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average rose 6 points to 34,765.00 while the Standard & Poor’s 500 index futures slipped 2 points to 4,534.50. Futures for the Nasdaq index fell 18 points to 14,728.00.

Check out our premarket coverage here .

Oil prices traded lower as Brent crude futures fell 3.7% to trade at $112.99 per barrel, while US WTI crude futures fell 4.1% to trade at $109.23 a barrel. The total number of active U.S. oil rigs rose by 7 to 531 rigs this week, Baker Hughes Inc reported Friday.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,621,880 with around 1,003,460 deaths. India reported a total of at least 43,020,720 confirmed cases, while Brazil confirmed over 29,842,410 cases.

Check out this: Executives Sell About $30M Of 3 Stocks

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.7%, while Spain’s IBEX 35 Index rose 1.1% and London’s FTSE 100 rose 0.3%. The French CAC 40 Index gained 0.9%, while German DAX climbed 1.2%.

Asian markets traded mostly higher today. Japan’s Nikkei 225 fell 0.73%, Hong Kong’s Hang Seng Index gained 1.24% and China’s Shanghai Composite Index rose 0.07%. Australia’s S&P/ASX 200 rose 0.1%, while India’s BSE SENSEX rose 0.3%. Profits earned by Chinese industrial firms increase 5.0% year-over-year to CNY 11.58 trillion in January-February 2022.

Broker Recommendation

Keybanc maintained Global Payments Inc. GPN with an Overweight and lowered the price target from $175 to $165.

Global Payments shares rose 0.4% to $136.72 in pre-market trading.

Check out this: Executives Buy Over $2.2M Of 3 Penny Stocks

Breaking News

• Coinbase Global Inc COIN is reportedly in talks to acquire 2TM, the parent company of Brazil’s largest crypto exchange Mercado Bitcoin. According to a report from local publication Estadão, Coinbase is expected to close the deal sometime in April.
• Tesla Inc TSLA is planning to halt production for a second time this month at Giga Shanghai amid intensifying COVID-19 restrictions, Bloomberg News reported on Sunday, citing people familiar with the matter.
• Express, Inc. EXPR named Jason Judd as Senior Vice President & Chief Financial Officer.
• Apple Inc AAPL has agreed to pay out a $14.8 million class action settlement in a case involving iCloud data storage.

Check out other breaking news here