A Peek Into The Markets: US Stock Futures Mixed Ahead Of Jobless Claims, Fed Speakers

Pre-open movers

U.S. stock futures traded mixed in early pre-market trade after the Nasdaq Composite dipped more than 300 points in the previous session. Investors are awaiting earnings results from Conagra Brands, Inc. (NYSE:CAG), Constellation Brands, Inc. (NYSE:STZ) and PriceSmart, Inc. (NASDAQ:PSMT).

Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims declining to 200,000 for the April 2 week from 202,000 in the previous week. Federal Reserve Bank of St. Louis President James Bullard is set to speak at 9:00 a.m. ET, while Federal Reserve Bank of Chicago President Charles Evans will speak at 2:00 p.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 4:05 p.m. ET.

Futures for the Dow Jones Industrial Average dipped 72 points to 34,327.00 while the Standard & Poor’s 500 index futures fell 2 points to 4,473.75. Futures for the Nasdaq index rose 33.75 points to 14,539.00.

Check out our premarket coverage here .

Oil prices traded slightly higher as Brent crude futures rose 0.1% to trade at $101.19 per barrel, while US WTI crude futures rose 0.2% to trade at $96.38 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.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,950,240 with around 1,010,530 deaths. India reported a total of at least 43,031,950 confirmed cases, while Brazil confirmed over 30,067,240 cases.

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A Peek Into Global Markets

European markets were mostly higher today. The STOXX Europe 600 Index gained 0.3%, while Spain’s IBEX 35 Index rose 0.6% and London’s FTSE 100 fell 0.5%. The French CAC 40 Index gained 0.2%, while German DAX gained 0.1%. Industrial production in Germany rose 0.2% from a month ago in February, versus a revised 1.4% increase in January. The Halifax house price index in the UK rose 11% year-over-year in March.

Asian markets traded lower today. Japan’s Nikkei 225 fell 1.69%, Hong Kong’s Hang Seng Index dipped 1.23%, and China’s Shanghai Composite fell 1.42%. Australia’s S&P/ASX 200 fell 0.6%, while India’s BSE SENSEX fell 0.5%. The index of coincident economic indicators in Japan fell to a three-month low of 95.5 in February from a revised 95.6 a month ago, while index of leading economic indicators dropped to 100.9 in February from 102.5. Australia's trade surplus shrank to AUD 7.46 billion in February from a revised AUD 11.79 billion in the prior month. The Australian Industry Group Australian Performance of Services Index declined to 56.2 in March versus a nine-month high of 60 a month ago.

Broker Recommendation

Keybanc downgraded The Southern Company (NYSE:SO) from Overweight to Sector Weight.

Southern shares fell 0.1% to $76.48 in pre-market trading.

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Breaking News

Levi Strauss & Co. (NYSE:LEVI) reported better-than-expected results for its first quarter and also reaffirmed its FY22 guidance.
Nio Inc’s (NYSE:NIO) head of autonomous driving systems engineering, Zhang Jianyong, is leaving the company to start his own automotive chips venture, CnEVpost reported on Thursday, citing XEV Lab, a media outlet focusing on the smart car industry.
Costco Wholesale Corporation (NASDAQ:COST) reported net sales of $21.61 billion for the retail month of March, a 18.7% surge from last year. Its comparable-store sales jumped 17.2% during the month.
In the lead-up to the Philippines' 2022 general elections, Meta Platforms, Inc (NASDAQ:FB) says it has taken down over 400 accounts, Pages, and Groups focused on fake engagements.