US Stock Futures Edge Higher, Crude Oil Drops

Pre-open movers

US stock futures traded higher in early pre-market trade. Crude oil futures fell 1.52 percent to $59.52 a barrel. Futures for the Dow Jones Industrial Average climbed 13.50 points to 18,057.5, while the Standard & Poor's 500 index futures rose 1.40 points to 2,116.15. Futures for the Nasdaq 100 index gained 5.65 points to 4,536.40.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.71 percent, STOXX Europe 600 Index surging 0.74 percent and German DAX 30 index gaining 0.39 percent. French CAC 40 Index jumped 0.77 percent and London's FTSE 100 Index rose 0.38 percent.

In Asian markets, Japan's Nikkei Stock Average rose 0.92 percent, China's Shanghai Composite Index dipped 6.42 percent, Hong Kong's Hang Seng Index gained 0.25 percent and India's BSE Sensex rose 0.74 percent.

Broker Recommendation
Analysts at Topeka Capital upgraded Micron Technology, Inc. (NASDAQ: MU) from Hold to Buy.

Micron Technology shares rose 1.70 percent to $24.88 in pre-market trading.

Breaking news

• Ceres, Inc. (NASDAQ: CERE), an agricultural biotechnology company, today announced the continued realignment of its business to focus on food and forage opportunities and biotechnology traits for sugarcane and other crops. To read the full news, click here.
• Enbridge Inc. (NYSE: ENB) has reached agreement with Enbridge Income Fund to transfer its Canadian Liquids Pipelines Business, held by Enbridge Pipelines Inc. and Enbridge Pipelines Athabasca Inc., and certain Canadian renewable energy assets to the Fund for consideration payable at closing valued at $30.4 billion. To read the full news, click here.
• The Hershey Company (NYSE: HSY) today announced the implementation of a new productivity initiative as part of its ongoing efforts to drive long-term growth and margin-enhancement. To read the full news, click here.
• Cenovus Energy Inc (USA) (NYSE: CVE) continues to make progress on its previously announced plan to pursue opportunities to maximize the value of its royalty interest and mineral fee title lands. To read the full news, click here.