A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Chicago Fed National Activity Index for October is schedule for release at 8:30 a.m. ET, while the Dallas Fed manufacturing index for November will be released at 10:30 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Providence, Rhode Island at 7:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 69 points to 27,931 while the Standard & Poor’s 500 index futures rose 6.4 points to 3,118.00. Futures for the Nasdaq 100 index gained 27 points to 8,307.50.

Oil prices traded mixed as Brent crude futures fell 1.5% to trade at $62.45 per barrel, while US WTI crude futures rose 0.2% to trade at $57.86 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.6%, STOXX Europe 600 Index rising 0.8% and German DAX 30 index gaining 0.4%. The UK's FTSE index was trading higher by 0.8%, while French CAC 40 Index rose 0.5%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.78%, Hong Kong’s Hang Seng Index rose 1.5%, China’s Shanghai Composite Index gained 0.72% and India’s BSE Sensex rose 1.31%.

Broker Recommendation

Analysts at Wells Fargo downgraded Netflix, Inc. (NASDAQ: NFLX) from Market Perform to Underperform and lowered the price target from $308 to $265.

Netflix shares fell 1.1 percent to $307.10 in pre-market trading.

Breaking News

• The Charles Schwab Corporation (NYSE: SCHW) reported the purchase of TD Ameritrade Holding Corporation (NASDAQ: AMTD) in an all-stock deal valued at $26 billion.
• KBR, Inc. (NYSE: KBR) disclosed that it has been awarded advanced automation systems contracts for HURL ammonia plant in India.
• A fashion conglomerate LVMH confirmed an agreement to buy Tiffany & Co. (NYSE: TIF) in a $16.2 billion bid.
• Kirkland Lake Gold Ltd. (NYSE: KL) reported the purchase of Detour Gold.