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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. U.S. stocks markets are closed Thursday for Thanksgiving holiday. Data on durable goods orders for October, Gross Domestic Product for the third quarter and initial jobless claims for the recent week will be released at 8:30 a.m. ET. The Chicago PMI for November is schedule for release at 9:00 a.m. ET. Data on personal income and consumer spending for October, the pending home sales index for October and the State Street Investor Confidence Index for November will be released at 10:00 a.m. ET. The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 29 points to 28,159 while the Standard & Poor’s 500 index futures traded rose 5.55 points to 3,149.25. Futures for the Nasdaq 100 index gained 24.25 points to 8,425.00.

Oil prices traded higher as Brent crude futures rose 0.3% to trade at $63.38 per barrel, while US WTI crude futures rose 0.2% to trade at $58.49 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, while the Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 12:00 p.m. ET. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.4%, STOXX Europe 600 Index climbing 0.4% and German DAX 30 index gaining 0.5%. The UK's FTSE index was trading higher by 0.4%, while French CAC 40 Index rose 0.2%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.28%, Hong Kong’s Hang Seng Index gained 0.15%, China’s Shanghai Composite Index fell 0.13% and India’s BSE Sensex rose 0.49%.

Broker Recommendation

Analysts at Barclays upgraded Dicks Sporting Goods Inc DKS from Equal-Weight to Overweight and raised the price target from $45 to $56.

Dick's Sporting shares rose 1.7% to $47.57 in pre-market trading.

Breaking News

• HP Inc HPQ reported better-than-expected results for its fourth quarter.
• Deere & Company DE reported upbeat sales for its fourth quarter. The company also expected a decline in agricultural and construction sales for FY20.
• Guess?, Inc. GES reported upbeat earnings for its third quarter, while sales missed estimates.
• Autodesk, Inc. ADSK reported upbeat results for its third quarter, but issued weak outlook for the fourth quarter.