A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Jobless Claims Report

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade after the after the Dow Jones and S&P 500 settled at fresh records in the earlier session.

Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims holding at 205,000 for the December 25 week compared to 205,000 in the previous week. The Chicago PMI for December is scheduled for release at 9:45 a.m. ET, while data on farm prices for November will be released at 3:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 15 points to 36,396.00 while the Standard & Poor’s 500 index futures gained 5 points to 4,789.50. Futures for the Nasdaq index jumped 31.25 points to 16,521.75.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 54,656,860 with around 844,270 deaths. India reported a total of at least 34,822,040 confirmed cases, while Brazil confirmed over 22,263,830 cases.

Oil prices traded lower as Brent crude futures fell 0.3% to trade at $78.98 per barrel, while US WTI crude futures fell 0.2% to trade at $76.39 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET, while the Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were mixed today. The Spanish Ibex Index fell 0.1% and STOXX Europe 600 Index gained 0.2%. The French CAC 40 Index gained 0.2%, while London’s FTSE 100 slipped 0.1% and German DAX 30 rose 0.1%. Spain's annual inflation rate increased to 6.7% in December from 5.5% in the earlier month. House prices in the UK increased by 10.4% year-over-year in December following a 10% rise in the previous month.

Asian markets traded mostly higher today. Japan’s Nikkei 225 fell 0.40%, while Hong Kong’s Hang Seng Index rose 0.11% and China’s Shanghai Composite gained 0.62%. Australia’s S&P/ASX 200 climbed 0.1%, while India’s BSE Sensex rose 0.1%. Singapore’s Domestic Supply Price Index surged 26% year-over-year in November following a 25.4% increase in the earlier month.

Breaking News

• Ford Motor Co F bagged an order for 184 Mustang Mach-E all-electric crossovers from New York City.
• Four Corners Property Trust, Inc. FCPT reported acquisition of three Mr. Tire Properties for $2.5 million. The company acquired Red Robin and AT&T outparcel properties for $2.8 million, and Portillo’s restaurant property for $3.3 million.
• VAALCO Energy, Inc. EGY reported the filing of a $50 million shelf registration.
• TPG Pace Beneficial Finance Corp. TPGY and EVBox Group have mutually agreed to terminate their earlier announced business combination agreement.

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