A Peek Into The Markets: U.S. Stock Futures Surge Ahead Of Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The FHFA House Price Index for November will be released at 9:00 a.m. ET, while the flash Composite Purchasing Managers' Index for January is schedule for release at 9:45 a.m. ET. Data on existing home sales for December will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 72 points to 26,273.00, while the Standard & Poor’s 500 index futures rose 5.50 points to 2,845.00. Futures for the Nasdaq 100 index rose 10.25 points to 6,974.75.

Oil prices traded mixed as Brent crude futures fell 0.14 percent to trade at $69.86 per barrel, while US WTI crude futures gained 0.26 percent to trade at $64.64 a barrel. The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.07 percent, STOXX Europe 600 Index rising 0.03 percent and German DAX 30 index dropping 0.02 percent. The UK's FTSE index was trading lower by 0.48 percent, while French CAC 40 Index fell 0.13 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.76 percent, Hong Kong’s Hang Seng Index climbed 0.09 percent, China’s Shanghai Composite Index rose 0.37 percent and India’s BSE Sensex climbed 0.06 percent.

Broker Recommendation

Analysts at Jefferies upgraded McKesson Corporation MCK from Hold to Buy..

McKesson shares fell 1.34 percent to close at $170.60 on Tuesday.

Breaking news

• Comcast Corporation CMCSA reported better-than-expected results for its fourth quarter.



• Rockwell Automation ROK posted stronger-than-expected earnings for its first quarter and raised its FY18 earnings outlook.



• United Technologies Corporation UTX reported upbeat earnings for its fourth quarter.



• United Continental Holdings Inc UAL reported upbeat earnings for its fourth quarter.