U.S. Stock Futures Higher; Crude Oil Rises 1%

Pre-open movers

U.S. stock futures traded higher in early pre-market trade on Monday after the Nasdaq Composite jumped around 1.4% the previous session. Investors are awaiting earnings results from RPM International Inc. RPM, Whirlpool Corporation WHR and Packaging Corporation of America PKG.

The Chicago Fed National Activity Index for June is scheduled for release at 8:30 a.m. ET, while the Dallas Fed's general activity index for July will be released at 10:30 a.m. ET.

This Healthcare Stock Jumped 110%; Here Are 64 Biggest Movers From Yesterday

Futures for the Dow Jones Industrial Average gained 121 points to 31,996.00 while the Standard & Poor’s 500 index futures rose 16.75 points to 3,981.75. Futures for the Nasdaq index rose 61.50 points to 12,485.00.

Oil prices traded higher as Brent crude futures rose 0.9% to trade at $99.25 per barrel, while US WTI crude futures rose 1% to trade at $95.64 a barrel.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 92,194,890 with around 1,051,990 deaths. India reported a total of at least 43,905,620 confirmed cases, while Brazil confirmed over 33,591,350 cases.

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.2%, London’s FTSE 100 rose 0.3% while Spain’s IBEX 35 Index rose 0.4%. The French CAC 40 Index rose 0.5%, while German DAX gained 0.4%. UK’s CBI's quarterly gauge of manufacturing optimism rose to -21 in the third quarter from -34 in the prior three-month period. The Ifo Business Climate indicator for Germany declined to 88.6 in July, recording the weakest in more than two years.

Asian markets traded lower today. Japan’s Nikkei 225 fell 0.77%, while China’s Shanghai Composite fell 0.60% and Hong Kong’s Hang Seng Index fell 0.22%. Australia’s S&P/ASX 200 fell 0.1%, while India’s S&P BSE Sensex fell 0.6%. Hong Kong’s trade deficit increased to HKD 68.5 billion in June from HKD 40.5 billion in the year-ago period.

Broker Recommendation

Raymond James upgraded The Travelers Companies, Inc. TRV from Market Perform to Strong Buy and announced $185 price target.

Travelers shares rose 1.7% to $159.00 in pre-market trading.

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Breaking News

Vince McMahon, the longtime head of Word Wrestling Entertainment WWE, is retiring. WWE president Nick Khan and McMahon's daughter, Stephanie McMahon, have been named co-CEOs. WWE shares rose 0.1% to $66.30 in the after-hours trading session.
The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended the approval of AstraZeneca Plc's AZN Ultomiris (ravulizumab) for generalized myasthenia gravis (gMG) who are anti-acetylcholine receptor (AChR) antibody-positive.
Friedman Industries FRD posted a Q4 loss of $1.11 per share, versus a year-ago profit of $1.50 per share. The company’s sales, however, climbed to $75.09 million from $49.21 million. Friedman Industries shares jumped 14.2% to $9.47 in the after-hours trading session.
Shares of Revelation Biosciences, Inc. REVB jumped 120% in pre-market trading after the company announced that primary endpoint was met in study for its treatment of allergic rhinitis.