A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Fed Speakers

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The Chicago Fed National Activity Index for April is schedule for release at 8:30 a.m. ET. Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 10:00 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker will speak in Philadelphia at 10:00 a.m. ET, while Federal Reserve Governor Lael Brainard is set to speak in Minneapolis at 7:00 p.m. ET. Chicago Federal Reserve Bank President Charles Evans is set to speak in Shanghai China at 9:10 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 11 points to 20,798.00, while the Standard & Poor’s 500 index futures rose 0.50 points to 2,382.00. Futures for the Nasdaq 100 index gained 4.75 points to 5,658.00.

Oil prices traded higher as Brent crude futures rose 0.86 percent to trade at $54.07 per barrel, while US WTI crude futures gained 0.89 percent to trade at $50.78 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.30 percent, STOXX Europe 600 Index declining 0.10 percent and German DAX 30 index dropping 0.40 percent. The UK's FTSE index was trading higher by 0.47 percent, while French CAC 40 Index climbed 0.03 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.45 percent, Hong Kong’s Hang Seng Index rose 0.86 percent, China’s Shanghai Composite Index declined 0.48 percent and India’s BSE Sensex rose 0.35 percent.

Broker Recommendation

Analysts at JP Morgan upgraded QUALCOMM, Inc. QCOM from Neutral to Overweight.

Qualcomm shares rose 1.53 percent to $58.55 in pre-market trading.

Breaking news

• Huntsman Corporation HUN and Switzerland’s Clariant AG CLZNY are near reaching a deal to merge in an all-stock transaction, according to a report from the Wall Street Journal on Sunday. The deal could be announced on Monday, sources said.



• Nutraceutical Int'l Corp. NUTR agreed to be acquired by HGGC for $41.80 per share in cash.



• Booz Allen Hamilton Holding Corporation BAH posted better-than-expected results for its fourth quarter.



• Ford Motor Co F will report the departure of its CEO Mark Fields, the Wall Street Journal reported. Ford is reportedly replacing Mark Fields with Jim Hackett.