A Peek Into The Markets: U.S. Stock Futures Gain; All Eyes On Jobs Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on nonfarm payrolls and unemployment rate for May and international trade for April will be released at 8:30 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Reading, Pennsylvania at 12:45 p.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Dallas at 1:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 88 points to 21,220.00, while the Standard & Poor’s 500 index futures rose 7 points to 2,436.50. Futures for the Nasdaq 100 index surged 20.50 points to 5,842.50.

Oil prices traded lower as Brent crude futures fell 2.37 percent to trade at $49.43 per barrel, while US WTI crude futures fell 2.32 percent to trade at $47.24 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index gaining 1.07 percent, STOXX Europe 600 Index rising 0.71 percent and German DAX 30 index gaining 1.57 percent. The UK's FTSE index was trading higher by 0.40 percent, while French CAC 40 Index rose 0.95 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.60 percent, Hong Kong’s Hang Seng Index gained 0.44 percent, China’s Shanghai Composite Index rose 0.09 percent and India’s BSE Sensex rose 0.44 percent.

Broker Recommendation

Analysts at JP Morgan upgraded Deere & Company DE from Underweight to Neutral and raised the price target from $103.00 to $122.00.

Deere shares rose 1.44 percent to $126.49 in pre-market trading.

Breaking news

• Lululemon Athletica inc. LULU reported stronger-than-expected results for its first quarter and raised its FY 2017 earnings outlook. The company also announced it plans to restructure its girls activewear brand, ivivva, toward a primarily e-commerce focused business. The company announced it will close 40 of its 55 ivivva branded stores and convert half the remaining stores to Lululemon branded stores.



• Descartes Systems Group Inc (USA) DSGX reported the purchase of PCSTrac business for $11.25 million in cash.



• RH RH reported in-line earnings for its first quarter, but lowered its earnings forecast for the year.



• Broadcom Ltd AVGO posted better-than-expected results for its second quarter on Thursday.