A Peek Into The Markets: US Stock Futures Mostly Flat Ahead Of Consumer Price Index

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade, ahead of earnings from Ingersoll Rand Inc. IR. The Consumer Price Index for April will be released at 8:30 a.m. ET, while the U.S. Treasury budget report for April will be released at 2:00 p.m. ET. Federal Reserve Bank of St. Louis President James Bullard is set to speak at 9:00 a.m. ET, while Federal Reserve Vice Chairman Randal Quarles will speak at 10:00 a.m. ET. Federal Reserve Bank of Philadelphia President Patrick Harker is set to speak at 12:00 p.m. ET, while Federal Reserve Bank of Cleveland President Loretta Mester will speak at 5:00 p.m. ET.

The U.S. is now the epicenter of the coronavirus pandemic with the highest number of cases and deaths around the world. Total COVID-19 cases in the U.S. exceeded 1,347,930 with around 80,680 deaths. Russia reported a total of at least 232,240 confirmed cases, while Spain confirmed over 227,430 cases.

Futures for the Dow Jones Industrial Average dropped 12 points to 24,112 while the Standard & Poor’s 500 index futures traded fell 1.55 points to 2,921.25. Futures for the Nasdaq 100 index were trading flat at 9,279.

Oil prices traded higher as Brent crude futures rose 1.5% to trade at $30.07 per barrel, while US WTI crude futures rose 2.7% to trade at $24.78 a barrel.


A Peek Into Global Markets


European markets were mostly higher today, with the Spanish Ibex Index rising 0.7%, STOXX Europe 600 Index gaining 0.2% and German DAX 30 index gaining 0.2%. The UK's FTSE index was trading higher by 0.3%, while French CAC 40 Index fell 0.1%.

In Asian markets, Japan’s Nikkei fell 0.12%, Hong Kong’s Hang Seng Index fell 1.45%, China’s Shanghai Composite Index slipped 0.11% and India’s BSE Sensex slipped 0.64%.


Broker Recommendation

Analysts at Credit Suisse downgraded Williams Companies Inc WMB from Outperform to Neutral.

Williams shares rose 0.1% to $19.55 in pre-market trading.


Breaking News

  • Grocery Outlet Holding Corp GO reported better-than-expected results for its first quarter, with a 17.4% growth in comparable store sales.
  • The Walt Disney Company DIS is planning a second debt offering this year, according to its filing with the Securities and Exchange Commission.
  • Tencent Music Entertainment Group – ADR TME reported weaker-than-expected results for its first quarter on Monday.
  • PayPal Holdings Inc. PYPL on Monday announced that it raised $4 billion in a corporate bond offering.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsEurozoneFuturesGlobalPre-Market OutlookMarketsA Peek Into The Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!