A Peek Into The Markets: US Stock Futures Surge Following Upbeat Apple Results

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The ADP national employment report for April will be released at 8:15 a.m. ET, while the manufacturing PMI for April is schedule for release at 9:45 a.m. ET. The ISM manufacturing composite index for April and data on construction spending for March will be released at 10:00 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET, while the Fed Chair Jerome Powell will hold a press conference at 2:30 p.m. ET.

Futures for the Dow Jones Industrial Average gained 76 points to 26,661.00, while the Standard & Poor’s 500 index futures rose 9.25 points to 2,957.75. Futures for the Nasdaq 100 index climbed 53.5 points to 7,854.50.

Oil prices traded lower as Brent crude futures fell 0.1 percent to trade at $72.03 per barrel, while US WTI crude futures dropped 0.4 percent to trade at $63.64 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 rising 0.6 percent, STOXX Europe 600 Index declining 0.1 percent and German DAX 30 index gained 0.1 percent. The UK’s FTSE index was trading lower by 0.1 percent, while French CAC 40 Index rose 0.1 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.22 percent, Hong Kong’s Hang Seng Index dropped 0.65 percent, China’s Shanghai Composite Index rose 0.52 percent and India’s BSE Sensex slipped 0.09 percent.

Broker Recommendation

Analysts at Benchmark upgraded Seagate Technology plc (NASDAQ: STX) from Hold to Buy.

Seagate shares rose 7.52 percent to close at $48.32 on Tuesday.

Breaking News

Apple Inc. (NASDAQ: AAPL) reported stronger-than-expected results for its second quarter

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