A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Fed Speakers

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Data on nonfarm productivity and unit labor costs for the third quarter will be released at 8:30 a.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak at 8:00 a.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 9:30 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Philadelphia, Pennsylvania at 3:15 p.m. ET, while New York Federal Reserve Bank President John Williams will speak in New York at 6:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 15 points to 27,436 while the Standard & Poor’s 500 index futures traded rose 0.6 points to 3,072.50. Futures for the Nasdaq 100 index gained 2.5 points to 8,213.25.

Oil prices traded lower as Brent crude futures fell 0.3% to trade at $62.80 per barrel, while US WTI crude futures fell 0.1% to trade at $57.21 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.2%, STOXX Europe 600 Index climbing 0.1% and German DAX 30 index gaining 0.1%. The UK's FTSE index was trading lower by 0.1%, while French CAC 40 Index rose 0.3%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.22%, Hong Kong’s Hang Seng Index gained 0.02%, China’s Shanghai Composite Index fell 0.43% and India’s BSE Sensex rose 0.55%.

Broker Recommendation

Analysts at Credit Suisse upgraded Lowe's Companies, Inc. LOW from Neutral to Outperform.

Lowe's shares rose 0.7% to $113.00 in pre-market trading.

Breaking News

• CVS Health Corporation CVS reported upbeat earnings for its third quarter and raised its FY19 earnings guidance.
• Humana Inc. HUM announced better-than-expected Q3 results.
• Owens & Minor, Inc. OMI reported better-than-expected earnings for its third quarter, while sales missed views.
• Wabash National Corporation WNC reported upbeat earnings for its third quarter, while sales missed estimates.