U.S. stock futures traded slightly higher in early pre-market trade.
Data on international trade for February will be released at 8:30 a.m. ET, while wholesale inventories report for February is schedule for release at 10:00 a.m. ET. St. Louis Federal Reserve Bank President James Bullard is set to speak in Annandale-on-Hudson, New York at 12:30 p.m. ET, while Philadelphia Federal Reserve Bank President Patrick Harker will speak in Vineland, NJ at 12:30 p.m. ET. The Federal Reserve will release its latest Beige Book report at 2:00 p.m. ET.
Futures for the Dow Jones Industrial Average rose 29 points to 26,476.00, while the Standard & Poor’s 500 index futures gained 5.85 points to 2,917.25. Futures for the Nasdaq 100 index rose 23.25 points to 7,702.75.
Oil prices traded higher as Brent crude futures rose 0.5 percent to trade at $72.09 per barrel, while US WTI crude futures climbed 0.6 percent to trade at $64.41 a barrel. The Energy Information Administration’s weekly report on petroleum inventories will be released at 10:30 a.m. ET.
A Peek Into Global Markets
European markets were mostly higher today, with the Spanish Ibex Index rising 0.4 percent, STOXX Europe 600 Index falling 0.1 percent and German DAX 30 index gained 0.3 percent. The UK’s FTSE index was trading lower by 0.1 percent, while French CAC 40 Index climbed 0.3 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 0.25 percent, Hong Kong’s Hang Seng Index slipped 0.02 percent, China’s Shanghai Composite Index rose 0.29 percent and India’s BSE Sensex rose 0.95 percent.
Analysts at JPMorgan upgraded QUALCOMM, Inc. (NASDAQ: QCOM) from Neutral to Overweight.
Qualcomm shares rose 9.3 percent to $76.99 in pre-market trading.