A Peek Into The Markets: US Stock Futures Edge Higher Ahead Of Producer Price, Wholesale Inventories Data

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. The Producer Price Index for August will be released at 8:30 a.m. ET, while data on wholesale inventories for July will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 22 points to 26,916 while the Standard & Poor’s 500 index futures rose 0.25 points to 2,978.75. Futures for the Nasdaq 100 index rose 0.5 points to 7,815.50.

Oil prices traded higher as Brent crude futures rose 0.9% to trade at $62.94 per barrel, while US WTI crude futures rose 1.1% to trade at $58.02 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index falling 0.1%, STOXX Europe 600 Index climbing 0.7% and German DAX 30 index gaining 0.8%. The UK’s FTSE index was trading higher by 1%, while French CAC 40 Index rose 0.4%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.96%, Hong Kong’s Hang Seng Index rose 1.78%, China’s Shanghai Composite Index fell 0.41% and India’s BSE Sensex rose 0.34%.

Broker Recommendation

Analysts at Baird downgraded HD Supply Holdings, Inc. (NASDAQ: HDS) from Outperform to Neutral and lowered the price target from $50 to $40.

HD Supply shares fell 4.2% to close at $39.10 on Tuesday.

Breaking News

The Lovesac Company (NASDAQ: LOVE) reported better-than-expected results for its second quarter. Dr. Reddy’s Laboratories Limited (NYSE: RDY) announced the launch of fosaprepitant for injection in the US Market. Dave & Buster’s Entertainment Inc (NASDAQ: PLAY) reported better-than-expected earnings for its second quarter, but lowered its 2019 sales guidance. Restoration Hardware Holdings, Inc (NYSE: RH) reported stronger-than-expected results for its second quarter

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