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

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after the Dow Jones tumbled 200 points in the previous session. Investors are awaiting earnings results from Carnival Corporation CCL, Adobe Inc. ADBE and Worthington Industries, Inc. WOR.

The Richmond Fed manufacturing index for March will be released at 10:00 a.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 10:30 a.m. ET.

Futures for the Dow Jones Industrial Average surged 102 points to 34,538.00 while the Standard & Poor’s 500 index futures rose 11 points to 4,463.25. Futures for the Nasdaq index rose 42.50 points to 14,413.00.

Check out our premarket coverage here .

Oil prices traded lower as Brent crude futures fell 1.2% to trade at $114.27 per barrel, while US WTI crude futures fell 1% to trade at $110.98 a barrel. The API’s report on crude oil stocks will be released later during the day.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,448,400 with around 998,840 deaths. India reported a total of at least 43,010,970 confirmed cases, while Brazil confirmed over 29,641,840 cases.

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A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.2%, while Spain’s IBEX 35 Index rose 0.2% and London’s FTSE 100 rose 0.3%. The French CAC 40 Index rose 0.3%, while German DAX rose 0.5%. The UK’s government reported a £13.1 billion deficit in its public finances for the month of February.

Asian markets traded higher today. Japan’s Nikkei 225 rose 1.48%, Hong Kong’s Hang Seng Index climbed 3.15% and China’s Shanghai Composite Index rose 0.19%. Australia’s S&P/ASX 200 rose 0.9%, while India’s BSE SENSEX surged 1%.

Broker Recommendation

Wells Fargo downgraded Anaplan, Inc. PLAN from Overweight to Equal-Weight and announced a $66 price target.

Anaplan shares fell 0.3% to $64.40 in pre-market trading.

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Breaking News

• Nike Inc NKE reported better-than-expected results for its third quarter on Monday.
• Alphabet Inc’s GOOG GOOGL self-driving subsidiary Waymo said on Monday it is ready to roll out fully driverless services in San Francisco without a “specialist” behind the wheel.
• Alibaba Group Holding Limited BABA increased its share buyback program to $25 billion from $15 billion.
• Volkswagen Group VWAGY has said it would spend $7.1 billion over the next five years on electric vehicle projects in North America, as the German automaker tries catching up with industry leader Tesla Inc TSLA on its home turf.

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