A Peek Into The Markets: US Stock Futures Up Ahead Of Economic Reports, Fed Speakers

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on Gross Domestic Product report for the second quarter, initial jobless claims for the latest week, U.S. international trade in goods for August and retail and wholesale inventories for August will be released at 8:30 a.m. ET. The pending home sales index for August is schedule for release at 10:00 a.m. ET, while the Kansas City Fed manufacturing index for September is schedule for release at 11:00 a.m. ET. Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas, Texas at 9:30 a.m. ET, while St. Louis Federal Reserve Bank President James Bullard will speak in St. Louis, Missouri at 10:00 a.m. ET. Federal Reserve Board of Governors Vice Chairman Richard Clarida is set to speak in San Francisco, CA at 11:45 a.m. ET, while San Francisco Federal Reserve Bank President Mary Daly will speak in San Francisco, CA at 11:45 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Billings, Montana at 2:00 p.m. ET, while Kansas City Federal Reserve Bank President Esther George will testify before the House Financial Services Committee in Washington, D.C. at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 45 points to 27,003 while the Standard & Poor’s 500 index futures traded rose 4.2 points to 2,990.50. Futures for the Nasdaq 100 index climbed 4 points to 7,824.25.

Oil prices traded lower as Brent crude futures fell 0.2% to trade at $61.34 per barrel, while US WTI crude futures fell 0.1% to trade at $56.46 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.2%, STOXX Europe 600 Index gained 0.7% and German DAX 30 index gained 0.5%. The UK's FTSE index was trading higher by 1%, while French CAC 40 Index rose 0.8%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.13%, Hong Kong’s Hang Seng Index gained 0.37%, China’s Shanghai Composite Index declined 0.89% and India’s BSE Sensex rose 1.03%.

Broker Recommendation

Analysts at Wells Fargo upgraded Square Inc SQ from Market Perform to Outperform and announces $80 price target.

Square shares rose 2.3% to $59.87 in pre-market trading.

Breaking News

• Rite Aid Corporation RAD reported stronger-than-expected earnings for its second quarter.
• Accenture Plc ACN reported upbeat earnings for its fourth quarter, while sales missed views. The company also issued weak earnings forecast for FY20.
• FactSet Research Systems Inc. FDS reported better-than-expected Q4 results, but issued weak FY20 earnings outlook.
• HB Fuller Co FUL reported downbeat results for its third quarter and- issued FY19 EPS guidance below analyst estimates.