A Peek Into The Markets: US Stock Futures Gain; Fed Meeting In Focus

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, after recording gains in the previous session. Investors are awaiting earnings from Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL), FedEx Corporation (NYSE: FDX) and Adobe Inc (NASDAQ: ADBE). The Federal Open Market Committee will begin its two-day policy meeting today. The Empire State manufacturing index for September and data on import and export prices for August will be released at 8:30 a.m. ET. Data on industrial production for August will be released at 9:15 a.m. ET.

Futures for the Dow Jones Industrial Average gained 162 points to 28,155 while the Standard & Poor’s 500 index futures traded rose 21.25 points to 3,403.75. Futures for the Nasdaq 100 index climbed 105.25 points to 11,385.75.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 6,554,820 with around 194,530 deaths. India reported a total of at least 4,930,230 confirmed cases, while Brazil confirmed over 4,345,610 cases.

Oil prices traded higher as Brent crude futures rose 0.8% to trade at $39.94 per barrel, while US WTI crude futures rose 0.9% to trade at $37.59 a barrel. The American Petroleum Institute’s report on crude supplies will be released later in the day.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.1% and STOXX Europe 600 Index gaining 0.4%. The French CAC 40 Index climbed 0.2%, while German DAX 30 rose 0.1% and London’s FTSE 100 rose 0.6%. The UK reported an increase in unemployment rate during the three months to July, with the rate rising to 4.1% from 3.9%.

In Asian markets, Japan’s Nikkei fell 0.44%, Hong Kong’s Hang Seng Index rose 0.38% China’s Shanghai Composite Index climbed 0.51% and India’s BSE

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