A Peek Into The Markets: US Stock Futures Down; Crude Oil Falls Over 1%

Pre-open movers

U.S. stock futures traded lower in early pre-market trade after the Nasdaq jumped more than 200 points in the previous session. Investors are awaiting earnings results from Tyson Foods, Inc. TSN, Zimmer Biomet Holdings, Inc. ZBH, Amgen Inc. AMGN and Hasbro, Inc. HAS.

Data on consumer credit for December will be released at 3:00 p.m. ET. Consumer credit is projected to rise $21.0 billion in December versus $39.9 billion in the previous month.

Futures for the Dow Jones Industrial Average fell 103 points to 34,875.00 while the Standard & Poor’s 500 index futures fell 10.50 points to 4,482.00. Futures for the Nasdaq index fell 28.50 points to 14,657.00.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 78,017,400 with around 926,020 deaths. India reported a total of at least 42,272,010 confirmed cases, while Brazil confirmed over 26,536,590 cases.

Oil prices traded lower as Brent crude futures fell 1.2% to trade at $92.16 per barrel, while US WTI crude futures fell 1.7% to trade at $90.74 a barrel. The total number of active U.S. oil rigs gained by 2 to 497 rigs in the latest week, Baker Hughes Inc reported Friday.

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A Peek Into Global Markets

European markets were mixed today. The STOXX Europe 600 Index gained 0.1%, while Spain’s IBEX 35 Index fell 0.6% and London’s FTSE 100 rose 0.2%. The French CAC 40 Index rose 0.1%, while German DAX gained 0.2%. The Halifax house price index in the UK increased 9.7% year-over-year in January, while industrial production in Germany fell 0.3% month-over-month in December.

Asian markets traded mixed today. Japan’s Nikkei fell 0.7%, while Hong Kong’s Hang Seng Index gained 0.03% and China’s Shanghai Composite Index gained 2%. Australia’s S&P/ASX 200 fell 0.1%, while India’s BSE SENSEX dropped 1.7%. The index of leading economic indicators in Japan rose to 104.3 in December from a revised final reading of 103.9 a month ago, while index of coincident economic indicators in Japan fell to 92.6 in December from a final 92.8. The Caixin China General Services PMI declined to 51.4 in January from 53.1 in the prior month. Retail sales in Australia dropped 4.4% month-on-month in December.

Broker Recommendation

Needham maintained Seagen Inc. SGEN with a Buy and lowered the price target from $254 to $200.

Seagen shares rose 2.1% to close at $137.93 on Friday.

Check out this: Executives Sell Over $20M Of 5 Stocks

Breaking News

Elon Musk owned Tesla Inc TSLA has recently launched its updated Supercharger map.

Century Aluminum Company CENX said Craig Conti will be leaving the company. Michelle Harrison, the Company’s Senior Vice President, Finance and Treasurer will assume responsibilities during the company’s search for replacement.

Apple, Inc. AAPL first hardware launch event may come sooner than many would have thought, if reports are to be believed.

Sifco Industries SIF reported a Q1 loss of $0.64 per share, versus a year-ago profit of 0.51 per share.

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