A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after the Nasdaq tumbled over 300 points in the previous session despite better-than-expected jobs report for May.

Futures for the Dow Jones Industrial Average jumped 236 points to 33,124.00 while the Standard & Poor’s 500 index futures rose 39.25 points to 4,146.25. Futures for the Nasdaq index climbed 160 points to 12,711.00.

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Oil prices traded higher as Brent crude futures rose 0.5% to trade at $120.35 per barrel, while US WTI crude futures rose 0.6% to trade at $119.55 a barrel.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 86,522,560 with around 1,033,590 deaths. India reported a total of at least 43,181,330 confirmed cases, while Brazil confirmed over 31,153,760 cases.

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A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.9%, London’s FTSE 100 climbed 1.4% while Spain’s IBEX 35 Index rose 0.9%. The French CAC 40 Index jumped 1.2%, while German DAX gained 1%.

Asian markets traded mixed today. Japan’s Nikkei 225 rose 0.56%, China’s Shanghai Composite gained 1.28% and Hong Kong’s Hang Seng Index jumped 2.7%. Australia’s S&P/ASX 200 fell 0.45% and India’s S&P BSE Sensex slipped 0.2%. The S&P Global Hong Kong PMI climbed to 54.9 in May from 52.7 a month ago, while Caixin China’s general services PMI rose to 41.4 in May from 36.2 in April.

Broker Recommendation

RBC Capital upgraded ResMed Inc. RMD from Sector Perform to Outperform and raised the price target from $233 to $244.

ResMed shares fell 1.4% to close at $208.31 on Friday.

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Breaking News

• Alibaba Group Holding Ltd BABA affiliate company Ant Group has set up a digital bank called ANEXT Bank in Singapore, and it will be organized as a wholly-owned subsidiary of Ant Group.
• Amid the Russian invasion of Ukraine, the Russian Ministry of Construction, Housing and Utilities website was hacked with an internet search for the site leading to a sign-in page saying "Glory to Ukraine."
• WhatsApp, the instant messaging application from Meta Platforms Inc FB, is planning another layer of verification in order to deter fraud on smartphones running operating systems from Apple Inc AAPL and Alphabet Inc GOOGL GOOG.
• Nio Inc NIO has returned to operating at pre-COVID lockdown levels in Shanghai, CnEVpost reported on Monday, citing the electric vehicle maker’s post on the company's mobile app.

Check out other breaking news here