A Peek Into The Markets: US Stock Futures Mixed Ahead Of Earnings, Economic Data

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade. Data on durable goods orders for March and initial jobless claims for the latest week will be released at 8:30 a.m. ET. The Kansas City Fed manufacturing index for April is schedule for release at 11:00 a.m. ET.

Futures for the Dow Jones Industrial Average tumbled 92 points to 26,449, while the Standard & Poor’s 500 index futures rose 0.7 point to 2,931.50. Futures for the Nasdaq 100 index fell 19.5 points to 7,867.25.

Oil prices traded higher as Brent crude futures rose 0.8 percent to trade at $75.17 per barrel, while US WTI crude futures gained 0.4 percent to trade at $66.17 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage 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 rising 0.2 percent, STOXX Europe 600 Index dropping 0.2 percent and German DAX 30 index declined 0.1 percent. The UK's FTSE index was trading lower by 0.5 percent, while French CAC 40 Index slipped 0.2 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.48 percent, Hong Kong’s Hang Seng Index slipped 0.86 percent, China’s Shanghai Composite Index fell 2.43 percent and India’s BSE Sensex fell 0.83 percent.

Broker Recommendation

Analysts at Morgan Stanley upgraded American Express Company AXP from Equal-Weight to Overweight.

American Express shares rose 0.9 percent to $115.00 in pre-market trading.

Breaking News

• 3M Co MMM reported weaker-than-expected results for its first quarter and lowered its FY19 adjusted EPS guidance. The company also announced plans to cut 2,000 jobs.
• Southwest Airlines Co LUV announced upbeat earnings for its first quarter.
• Bristol-Myers Squibb Co BMY reported stronger-than-expected earnings for its first quarter.
• Facebook, Inc. FB reported stronger-than-expected results for its first quarter. Daily active users were up 8 percent year-over-year in the first quarter.